Ameris Bancorp (NASDAQ:ABCB) Receives $66.67 Consensus Price Target from Brokerages

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $66.67.

Several analysts have weighed in on the company. Stephens boosted their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. Truist Financial dropped their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, October 28th. DA Davidson raised their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Raymond James raised shares of Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 target price for the company in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, July 29th.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock traded up $8.57 during trading on Wednesday, reaching $71.14. The company's stock had a trading volume of 1,086,959 shares, compared to its average volume of 362,603. The stock has a 50-day moving average price of $61.93 and a two-hundred day moving average price of $55.65. The stock has a market capitalization of $4.91 billion, a P/E ratio of 14.82 and a beta of 1.01. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a one year low of $38.71 and a one year high of $71.96.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The company had revenue of $424.86 million during the quarter, compared to analysts' expectations of $290.60 million. During the same period last year, the firm earned $1.16 EPS. As a group, sell-side analysts anticipate that Ameris Bancorp will post 4.84 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.84%. Ameris Bancorp's dividend payout ratio (DPR) is presently 12.50%.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp during the second quarter worth about $33,000. GAMMA Investing LLC grew its position in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank's stock valued at $41,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. increased its stake in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank's stock worth $44,000 after purchasing an additional 509 shares in the last quarter. CWM LLC raised its holdings in Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank's stock worth $66,000 after buying an additional 329 shares during the period. Finally, US Bancorp DE lifted its stake in Ameris Bancorp by 3,396.4% in the third quarter. US Bancorp DE now owns 1,923 shares of the bank's stock valued at $120,000 after buying an additional 1,868 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.