Ameris Bancorp (NASDAQ:ABCB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $86.50.

A number of research analysts recently commented on ABCB shares. Keefe, Bruyette & Woods upped their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Truist Financial increased their target price on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Stephens boosted their price target on Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Finally, DA Davidson set a $94.00 price objective on Ameris Bancorp in a research report on Monday, February 2nd.

Ameris Bancorp Stock Down 1.9%

Ameris Bancorp stock opened at $75.80 on Friday. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $87.98. The firm has a market capitalization of $5.15 billion, a PE ratio of 14.55 and a beta of 0.97. The company’s 50-day moving average is $79.84 and its 200-day moving average is $76.63. 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 (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million for the quarter, compared to analyst estimates of $310.48 million. During the same quarter in the prior year, the company earned $1.38 earnings per share. Sell-side analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Tuesday, March 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp’s payout ratio is currently 13.33%.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors have recently modified their holdings of ABCB. JPMorgan Chase & Co. grew its stake in shares of Ameris Bancorp by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock worth $92,256,000 after buying an additional 39,478 shares during the last quarter. First Eagle Investment Management LLC grew its position in Ameris Bancorp by 8.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 196,564 shares of the bank’s stock worth $14,410,000 after acquiring an additional 15,006 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Ameris Bancorp by 16.8% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 394,563 shares of the bank’s stock worth $28,925,000 after purchasing an additional 56,852 shares in the last quarter. North Reef Capital Management LP raised its position in Ameris Bancorp by 4.8% in the third quarter. North Reef Capital Management LP now owns 1,981,061 shares of the bank’s stock valued at $145,232,000 after purchasing an additional 91,043 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Ameris Bancorp during the second quarter worth about $1,663,000. 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.