Ameris Bancorp (NASDAQ:ABCB) PT Lowered to $68.00 at Truist Financial

Ameris Bancorp (NASDAQ:ABCB - Free Report) had its target price trimmed by Truist Financial from $73.00 to $68.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the bank's stock.

A number of other equities research analysts have also recently issued reports on the stock. DA Davidson boosted their target price on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. StockNews.com cut shares of Ameris Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, October 23rd. Stephens upped their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Finally, Raymond James raised shares of Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.67.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB traded up $1.93 on Monday, hitting $63.18. The company had a trading volume of 387,474 shares, compared to its average volume of 361,291. Ameris Bancorp has a 1-year low of $34.76 and a 1-year high of $66.51. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 15.37 and a beta of 1.01. The stock has a 50 day moving average price of $61.63 and a 200 day moving average price of $54.93. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.13. The company had revenue of $424.86 million during the quarter, compared to analysts' expectations of $290.60 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same quarter in the previous year, the business posted $1.16 earnings per share. Analysts expect that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABCB. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank's stock worth $20,153,000 after acquiring an additional 178,500 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ameris Bancorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank's stock worth $365,771,000 after acquiring an additional 92,491 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Ameris Bancorp in the first quarter worth about $3,869,000. Edgestream Partners L.P. lifted its holdings in shares of Ameris Bancorp by 164.8% in the first quarter. Edgestream Partners L.P. now owns 119,164 shares of the bank's stock worth $5,765,000 after acquiring an additional 74,165 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ameris Bancorp in the second quarter worth about $2,462,000. 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.