Ameris Bancorp (NASDAQ:ABCB) Price Target Raised to $100.00

Ameris Bancorp (NASDAQ:ABCB) had its price target lifted by DA Davidson from $98.00 to $100.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a buy rating on the bank’s stock.

Several other analysts have also weighed in on the company. Truist Financial upped their target price on Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a report on Friday, July 10th. Stephens lifted their price target on Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Piper Sandler decreased their price objective on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday. Raymond James Financial lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.67.

Ameris Bancorp Price Performance

ABCB stock opened at $87.92 on Monday. The firm has a 50 day moving average of $88.00 and a 200-day moving average of $83.54. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 16.88 and a beta of 0.91. 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 has a 12-month low of $65.43 and a 12-month high of $93.22.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, equities analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

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

Institutional Trading of Ameris Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in ABCB. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp during the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC acquired a new position in Ameris Bancorp in the 3rd quarter valued at about $45,000. Danske Bank A S purchased a new position in Ameris Bancorp in the 3rd quarter valued at about $51,000. Torren Management LLC purchased a new position in Ameris Bancorp in the 4th quarter valued at about $76,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Ameris Bancorp by 316.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after purchasing an additional 805 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.