Ameris Bancorp (NASDAQ:ABCB) PT Raised to $69.00

Ameris Bancorp (NASDAQ:ABCB) had its price objective boosted by Truist Financial from $54.00 to $69.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

Several other analysts have also recently commented on the company. DA Davidson raised their target price on Ameris Bancorp from $61.00 to $76.00 and gave the stock a buy rating in a research report on Monday. StockNews.com upgraded Ameris Bancorp from a sell rating to a hold rating in a research report on Monday, April 29th. Piper Sandler upped their target price on Ameris Bancorp from $55.00 to $57.00 and gave the company an overweight rating in a report on Monday, April 29th. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an outperform rating in a report on Monday. Finally, Stephens boosted their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an equal weight rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $66.20.

Ameris Bancorp Price Performance

ABCB stock opened at $58.46 on Monday. Ameris Bancorp has a one year low of $34.26 and a one year high of $64.88. The firm has a 50-day moving average of $51.67 and a two-hundred day moving average of $49.27. The firm has a market capitalization of $4.04 billion, a PE ratio of 14.22 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 issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, beating the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The business 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 firm earned $0.91 EPS. On average, analysts forecast that Ameris Bancorp will post 4.67 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Sunday, June 30th were issued a $0.15 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Institutional Trading of Ameris Bancorp

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $31,000. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp during the second quarter valued at about $33,000. CWM LLC lifted its position in shares of Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after buying an additional 329 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Ameris Bancorp during the 2nd quarter worth about $143,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ameris Bancorp during the 1st quarter valued at about $190,000. 91.64% of the stock is owned by institutional investors.

About Ameris Bancorp

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.