Ameris Bancorp (NASDAQ:ABCB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $90.1667.

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Ameris Bancorp in a research note on Monday, April 27th. Stephens upped their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Finally, DA Davidson upped their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $85.44 on Thursday. The company’s fifty day moving average is $83.39 and its two-hundred day moving average is $80.16. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $59.54 and a 12-month high of $87.99. The company has a market cap of $5.75 billion, a P/E ratio of 16.40 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $314.36 million for the quarter, compared to the consensus estimate of $309.58 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same period in the previous year, the business earned $1.28 EPS. Equities analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio is 12.58%.

Hedge Funds Weigh In On Ameris Bancorp

Hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC acquired a new position in shares of Ameris Bancorp in the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC bought a new stake in Ameris Bancorp in the third quarter worth $45,000. Danske Bank A S bought a new stake in Ameris Bancorp in the third quarter worth $51,000. Aster Capital Management DIFC Ltd boosted its holdings in Ameris Bancorp by 395.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock worth $55,000 after purchasing an additional 597 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Ameris Bancorp in the fourth quarter worth $76,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.