Ameris Bancorp (NYSE:ABCB) Stock Has Average Price Target of $91.67 According to Analysts

Shares of Ameris Bancorp (NYSE:ABCB) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $90.67.

Several analysts recently weighed in on the company. Wall Street Zen downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Truist Financial dropped their target price on shares of Ameris Bancorp from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Friday. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Piper Sandler reduced their price target on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th.

Institutional Trading of Ameris Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Ameris Bancorp by 5.2% in the second quarter. GAMMA Investing LLC now owns 2,546 shares of the bank’s stock worth $230,000 after purchasing an additional 125 shares during the last quarter. Waverly Advisors LLC lifted its holdings in shares of Ameris Bancorp by 1.4% during the 2nd quarter. Waverly Advisors LLC now owns 11,815 shares of the bank’s stock valued at $1,066,000 after purchasing an additional 161 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Ameris Bancorp by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 10,892 shares of the bank’s stock valued at $983,000 after purchasing an additional 212 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Ameris Bancorp by 3.5% in the 2nd quarter. HB Wealth Management LLC now owns 6,913 shares of the bank’s stock worth $624,000 after purchasing an additional 236 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Ameris Bancorp by 3.9% in the 1st quarter. Inspire Investing LLC now owns 6,554 shares of the bank’s stock worth $511,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Down 0.8%

Shares of NYSE ABCB opened at $79.03 on Wednesday. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 14.29 and a beta of 0.96. The stock has a 50 day moving average price of $84.66 and a 200 day moving average price of $85.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.04.

Ameris Bancorp (NYSE:ABCB) last issued its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%. The firm had revenue of $317.78 million during the quarter, compared to analysts’ expectations of $323.78 million. During the same quarter in the prior year, the company posted $1.59 earnings per share. Sell-side analysts expect that Ameris Bancorp will post 6.61 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s payout ratio is 14.47%.

Ameris Bancorp Company Profile

Ameris Bancorp (NYSE: ABCB) is a financial holding company whose principal subsidiary, Ameris Bank, provides banking and financial services to individuals, businesses and institutions. The bank offers deposit accounts, commercial and consumer lending, residential mortgages, treasury and payment services, wealth management and other financial solutions.

Founded in 1971, Ameris Bank has grown from a community banking institution in Georgia into a regional bank serving customers across the southeastern United States.