Analysts Set Ameris Bancorp (NYSE:ABCB) PT at $91.67

Ameris Bancorp (NYSE:ABCBGet Free Report) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $91.6667.

Several research analysts recently commented on ABCB shares. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings assumed coverage on shares of Ameris Bancorp in a research note on Wednesday, September 2nd. They issued a “buy (b)” rating on the stock. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Stephens set a $88.00 target price on shares of Ameris Bancorp in a research report on Monday, July 27th. Finally, DA Davidson lifted their price target on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th.

Get Our Latest Research Report on Ameris Bancorp

Institutional Investors Weigh In On Ameris Bancorp

Several hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in Ameris Bancorp in the second quarter worth about $3,041,000. Integrated Wealth Concepts LLC bought a new position in Ameris Bancorp during the 2nd quarter worth about $91,000. NewEdge Advisors LLC increased its position in 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 period. Waverly Advisors LLC increased its position in 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 period. Finally, Nykredit A S bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at about $231,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $83.33 on Friday. The stock’s fifty day moving average is $87.22 and its two-hundred day moving average is $84.73. The company has a market capitalization of $5.59 billion, a PE ratio of 15.07 and a beta of 0.91. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.34. Ameris Bancorp has a 52 week low of $68.80 and a 52 week high of $93.22.

Ameris Bancorp (NYSE:ABCBGet Free Report) last released 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). The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%.During the same quarter last year, the business posted $1.59 earnings per share. As a group, analysts expect that Ameris Bancorp will post 6.58 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.47%.

Ameris Bancorp Company Profile

(Get Free Report)

Ameris Bancorp is the bank holding company for Ameris Bank, a full-service community bank headquartered in Atlanta, Georgia. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and institutions.

Ameris Bank offers deposit accounts, commercial and consumer loans, residential mortgages, home equity financing, treasury management and payment services. The bank also provides wealth management, investment and insurance-related services, along with digital and mobile banking capabilities.

Founded in 1971, Ameris Bank serves communities primarily across the southeastern United States, including Georgia, Alabama, Florida, South Carolina and North Carolina.

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Analyst Recommendations for Ameris Bancorp (NYSE:ABCB)

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