Brokerages Set Ameris Bancorp (NASDAQ:ABCB) PT at $86.50

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $86.50.

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

Institutional Investors Weigh In On Ameris Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC acquired a new stake in shares of Ameris Bancorp in the 4th quarter worth about $29,000. True Wealth Design LLC increased its stake in shares of Ameris Bancorp by 2,311.8% in the second quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock valued at $27,000 after purchasing an additional 393 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $33,000. Covestor Ltd boosted its position in shares of Ameris Bancorp by 51.5% during the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after buying an additional 186 shares during the period. Finally, Allworth Financial LP grew its holdings in Ameris Bancorp by 1,567.6% in the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank’s stock worth $37,000 after buying an additional 533 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $82.58 on Tuesday. 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 has a 1-year low of $48.27 and a 1-year high of $87.98. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.85 and a beta of 0.99. The business has a 50-day moving average of $80.11 and a 200-day moving average of $75.94.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $310.48 million. During the same quarter in the prior year, the business earned $1.38 EPS. On average, equities analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s payout ratio is currently 13.33%.

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.