Brokerages Set Ameris Bancorp (NASDAQ:ABCB) PT at $90.17

Shares of Ameris Bancorp (NASDAQ:ABCB) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $90.1667.

Several equities research analysts have issued reports on ABCB shares. Truist Financial lifted their price target 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. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price target on shares of Ameris Bancorp in a research report on Monday, April 27th. DA Davidson boosted their price target on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Stephens boosted their price target on Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th.

Ameris Bancorp Stock Up 0.9%

Shares of ABCB stock opened at $83.62 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1 year low of $59.54 and a 1 year high of $87.99. The firm’s fifty day moving average price is $80.60 and its two-hundred day moving average price is $78.77. The firm has a market capitalization of $5.63 billion, a P/E ratio of 16.05 and a beta of 0.93.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same period in the previous year, the business earned $1.28 EPS. On average, equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Ameris Bancorp’s payout ratio is currently 12.58%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter worth about $29,000. Covestor Ltd increased its stake in shares of Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Ameris Bancorp during the 3rd quarter worth about $45,000. Danske Bank A S acquired a new position in shares of Ameris Bancorp during the 3rd quarter worth about $51,000. Finally, Aster Capital Management DIFC Ltd increased its holdings 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 worth $55,000 after acquiring an additional 597 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

About Ameris Bancorp

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.