Ameris Bancorp (NASDAQ:ABCB) Receives $78.57 Average PT from Analysts

Ameris Bancorp (NASDAQ:ABCB) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $79.00.

A number of brokerages have recently commented on ABCB. Truist Financial set a $83.00 target price on shares of Ameris Bancorp in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Piper Sandler set a $84.00 target price on Ameris Bancorp in a report on Wednesday, October 29th. DA Davidson started coverage on Ameris Bancorp in a research report on Tuesday, November 25th. They issued a “buy” rating and a $87.00 price target for the company. Finally, Raymond James Financial reiterated an “outperform” rating and set a $80.00 price objective (up previously from $73.00) on shares of Ameris Bancorp in a research report on Wednesday, October 29th.

Ameris Bancorp Stock Up 0.1%

NASDAQ ABCB opened at $79.10 on Monday. The business has a fifty day moving average price of $75.45 and a 200 day moving average price of $72.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $5.40 billion, a P/E ratio of 15.18 and a beta of 0.99. Ameris Bancorp has a one year low of $48.27 and a one year high of $79.56.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Ameris Bancorp’s payout ratio is currently 13.84%.

Ameris Bancorp declared that its board has approved a share repurchase plan on Monday, October 20th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $53,624,000. Invesco Ltd. lifted its position in shares of Ameris Bancorp by 134.7% during the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock worth $68,318,000 after purchasing an additional 534,830 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ameris Bancorp by 67.4% in the second quarter. JPMorgan Chase & Co. now owns 1,218,958 shares of the bank’s stock valued at $78,867,000 after purchasing an additional 490,602 shares during the period. Bessemer Group Inc. boosted its stake in shares of Ameris Bancorp by 98,682.6% in the third quarter. Bessemer Group Inc. now owns 351,666 shares of the bank’s stock valued at $25,780,000 after purchasing an additional 351,310 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Ameris Bancorp in the second quarter valued at approximately $21,850,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

About Ameris Bancorp

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.