Ameris Bancorp (NASDAQ:ABCB) Receives Consensus Recommendation of “Hold” from Brokerages

Ameris Bancorp (NASDAQ:ABCB) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $91.6667.

Several research analysts recently issued reports on ABCB shares. Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Piper Sandler dropped their price objective on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. DA Davidson raised their price target on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 27th.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $89.05 on Tuesday. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 17.09 and a beta of 0.92. Ameris Bancorp has a 52 week low of $68.80 and a 52 week high of $93.22. The company’s 50-day moving average price is $88.98 and its 200 day moving average price is $84.30. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $323.78 million. During the same quarter last year, the business posted $1.59 earnings per share. As a group, research analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.47%.

Institutional Investors Weigh In On Ameris Bancorp

A number of institutional investors have recently added to or reduced their stakes in ABCB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Ameris Bancorp during the third quarter worth about $45,000. Danske Bank A S acquired a new position in shares of Ameris Bancorp in the third quarter worth about $51,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ameris Bancorp in the second quarter worth about $66,000. Finally, Allworth Financial LP purchased a new position in shares of Ameris Bancorp during the 2nd quarter valued at approximately $67,000. Hedge funds and other institutional investors 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.