Ameris Bancorp (NASDAQ:ABCB) Given Average Recommendation of “Moderate Buy” by Analysts

Ameris Bancorp (NASDAQ:ABCB) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research 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 issued a report on the stock in the last year is $92.1667.

A number of research firms have recently commented on ABCB. 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 downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. DA Davidson increased their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, 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 report on Monday, April 27th.

Hedge Funds Weigh In On Ameris Bancorp

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at about $62,673,000. North Reef Capital Management LP increased its position in Ameris Bancorp by 38.2% during the 4th quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock worth $203,279,000 after purchasing an additional 755,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Ameris Bancorp in the first quarter valued at approximately $42,270,000. Invesco Ltd. raised its holdings in Ameris Bancorp by 134.7% in the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock valued at $68,318,000 after buying an additional 534,830 shares during the period. Finally, Jennison Associates LLC lifted its position in Ameris Bancorp by 31.3% during the fourth quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after buying an additional 414,920 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Down 0.2%

Shares of NASDAQ ABCB opened at $89.98 on Monday. The firm has a market cap of $6.06 billion, a P/E ratio of 17.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 1 year low of $64.64 and a 1 year high of $92.44. The firm’s 50 day moving average price is $86.21 and its 200 day moving average price is $81.85.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $314.36 million for the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter last year, the firm earned $1.28 earnings per share. As a group, sell-side analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Ameris Bancorp’s payout ratio is 12.58%.

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.