Ameris Bancorp (NASDAQ:ABCB) PT Raised to $64.00

Ameris Bancorp (NASDAQ:ABCB) had its price target raised by equities researchers at Stephens from $52.00 to $64.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price target indicates a potential upside of 5.02% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Truist Financial decreased their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 1st. Finally, Piper Sandler boosted their target price on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.20.

Ameris Bancorp Trading Down 0.1 %

Shares of ABCB stock opened at $60.94 on Monday. The firm has a 50-day moving average price of $51.44 and a 200 day moving average price of $49.19. Ameris Bancorp has a twelve month low of $34.26 and a twelve month high of $64.88. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 14.83 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the prior year, the company posted $0.91 EPS. Research analysts forecast that Ameris Bancorp will post 4.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. Norges Bank purchased a new position in Ameris Bancorp in the 4th quarter worth approximately $39,787,000. Victory Capital Management Inc. boosted its stake in shares of Ameris Bancorp by 50.4% during the 4th quarter. Victory Capital Management Inc. now owns 845,390 shares of the bank’s stock valued at $44,848,000 after buying an additional 283,138 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Ameris Bancorp by 4,193.6% during the 4th quarter. Hsbc Holdings PLC now owns 229,408 shares of the bank’s stock valued at $12,163,000 after buying an additional 224,065 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ameris Bancorp by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,193,610 shares of the bank’s stock valued at $222,473,000 after buying an additional 205,750 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Ameris Bancorp by 8.7% during the 4th quarter. Independent Advisor Alliance now owns 2,514,293 shares of the bank’s stock valued at $133,383,000 after buying an additional 201,644 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.