Ameris Bancorp (NASDAQ:ABCB) PT Raised to $67.00

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) had its price target boosted by investment analysts at Stephens from $64.00 to $67.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the bank's stock. Stephens' price target points to a potential upside of 6.05% from the stock's previous close.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of Ameris Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, October 23rd. Raymond James upgraded Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a report on Monday. Truist Financial lowered their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a research report on Monday. DA Davidson raised their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a "buy" rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Ameris Bancorp Trading Up 3.2 %

Shares of NASDAQ:ABCB traded up $1.93 during midday trading on Monday, reaching $63.18. The company's stock had a trading volume of 387,474 shares, compared to its average volume of 361,291. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 15.36 and a beta of 1.01. The business has a 50 day moving average price of $61.54 and a 200 day moving average price of $54.80. Ameris Bancorp has a 1 year low of $34.76 and a 1 year high of $66.51. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.13. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The firm had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same period last year, the company earned $1.16 EPS. Research analysts forecast that Ameris Bancorp will post 4.82 EPS for the current year.

Hedge Funds Weigh In On Ameris Bancorp

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

About Ameris Bancorp

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.