Ameris Bancorp (NASDAQ:ABCB) Receives $90.17 Consensus Target Price from Brokerages

Ameris Bancorp (NASDAQ:ABCBGet Free Report) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $90.1667.

A number of equities research analysts have recently commented on the stock. Stephens upped their price objective on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Ameris Bancorp in a research note on Monday, April 27th. Truist Financial upped their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, DA Davidson upped their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th.

View Our Latest Stock Report on ABCB

Ameris Bancorp Trading Up 0.5%

ABCB opened at $86.53 on Thursday. Ameris Bancorp has a fifty-two week low of $59.54 and a fifty-two week high of $87.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 16.61 and a beta of 0.91. The company’s 50 day moving average price is $83.79 and its two-hundred day moving average price is $80.36.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same period in the prior year, the firm posted $1.28 EPS. As a group, research analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 31st. Ameris Bancorp’s payout ratio is presently 12.58%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Ameris Bancorp by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock worth $92,256,000 after purchasing an additional 39,478 shares during the period. North Reef Capital Management LP boosted its position in Ameris Bancorp by 4.8% during the third quarter. North Reef Capital Management LP now owns 1,981,061 shares of the bank’s stock worth $145,232,000 after purchasing an additional 91,043 shares during the period. First Eagle Investment Management LLC boosted its position in Ameris Bancorp by 8.3% during the third quarter. First Eagle Investment Management LLC now owns 196,564 shares of the bank’s stock worth $14,410,000 after purchasing an additional 15,006 shares during the period. Artemis Investment Management LLP bought a new position in Ameris Bancorp during the fourth quarter worth about $1,667,000. Finally, Congress Asset Management Co. boosted its position in Ameris Bancorp by 2.8% during the fourth quarter. Congress Asset Management Co. now owns 996,786 shares of the bank’s stock worth $74,031,000 after purchasing an additional 27,106 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

About Ameris Bancorp

(Get Free Report)

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.

See Also

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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