Analysts Set Ameris Bancorp (NASDAQ:ABCB) Price Target at $90.17

Ameris Bancorp (NASDAQ:ABCBGet Free Report) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $90.1667.

A number of research firms have recently weighed in on ABCB. Stephens raised their target price on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Raymond James Financial restated an “outperform” rating and issued a $92.00 target price on shares of Ameris Bancorp in a report on Monday, April 27th. DA Davidson lifted their price target on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Truist Financial lifted their price target on Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th.

Read Our Latest Stock Analysis on Ameris Bancorp

Institutional Trading of Ameris Bancorp

A number of hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp during the fourth quarter worth about $29,000. Covestor Ltd grew its position in shares of Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after acquiring an additional 186 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Ameris Bancorp during the 3rd quarter valued at approximately $45,000. Danske Bank A S bought a new position in shares of Ameris Bancorp during the 3rd quarter valued at approximately $51,000. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Ameris Bancorp by 395.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after acquiring an additional 597 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Ameris Bancorp Stock Down 1.5%

ABCB stock opened at $82.44 on Friday. Ameris Bancorp has a twelve month low of $59.54 and a twelve month high of $87.99. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $80.65 and its 200-day moving average is $78.80. The firm has a market capitalization of $5.55 billion, a PE ratio of 15.82 and a beta of 0.93.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same quarter last year, the company earned $1.28 earnings per share. Sell-side analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 12.58%.

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.

Further Reading

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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