Truist Financial Issues Positive Forecast for Ameris Bancorp (NASDAQ:ABCB) Stock Price

Ameris Bancorp (NASDAQ:ABCB) had its price target boosted by Truist Financial from $89.00 to $92.00 in a research note published on Friday, Marketbeat.com reports. They currently have a hold rating on the bank’s stock.

A number of other research analysts also recently commented on the stock. Stephens raised their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. DA Davidson boosted their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler reissued an “overweight” rating and issued a $96.00 price objective on shares of Ameris Bancorp in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average price target of $92.67.

Ameris Bancorp Trading Up 0.7%

Shares of Ameris Bancorp stock traded up $0.65 on Friday, hitting $90.41. 331,991 shares of the company traded hands, compared to its average volume of 537,963. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.08 billion, a PE ratio of 17.35 and a beta of 0.91. The stock’s 50 day moving average price is $86.70 and its 200-day moving average price is $82.25. Ameris Bancorp has a 52 week low of $64.64 and a 52 week high of $92.43.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $314.36 million for the quarter, compared to the consensus estimate of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the prior year, the company earned $1.28 EPS. Equities research analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s payout ratio is currently 12.58%.

Institutional Trading of Ameris Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of ABCB. Royal Bank of Canada lifted its position in Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock valued at $1,687,000 after purchasing an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ameris Bancorp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock worth $2,256,000 after purchasing an additional 1,703 shares during the period. NewEdge Advisors LLC raised its stake in shares of Ameris Bancorp by 36.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after buying an additional 3,129 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Ameris Bancorp during the 1st quarter valued at about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ameris Bancorp by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock valued at $10,767,000 after buying an additional 13,633 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.