Stephens Forecasts Strong Price Appreciation for Ameris Bancorp (NASDAQ:ABCB) Stock

Ameris Bancorp (NASDAQ:ABCB) had its price objective lifted by equities researchers at Stephens from $87.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price target would suggest a potential upside of 5.95% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. DA Davidson set a $94.00 price objective on shares of Ameris Bancorp in a report on Monday, February 2nd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Ameris Bancorp in a report on Monday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and an average target price of $87.50.

Ameris Bancorp Stock Up 0.1%

Ameris Bancorp stock traded up $0.06 during midday trading on Monday, hitting $84.95. 57,207 shares of the company were exchanged, compared to its average volume of 561,606. The company’s fifty day moving average price is $79.68 and its 200-day moving average price is $77.71. The company has a market cap of $5.80 billion, a PE ratio of 16.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a fifty-two week low of $55.83 and a fifty-two week high of $87.98.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same period in the previous year, the company posted $1.28 EPS. On average, research analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Ameris Bancorp

A number of institutional investors have recently modified their holdings of ABCB. Royal Bank of Canada raised its stake in shares of Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 2,546 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after purchasing an additional 1,703 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after purchasing an additional 3,129 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Ameris Bancorp in the 1st quarter valued at about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ameris Bancorp by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock valued at $10,767,000 after purchasing an additional 13,633 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.