Ameris Bancorp (NASDAQ:ABCB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Ameris Bancorp (NASDAQ:ABCB) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $79.8333.

Several brokerages have recently weighed in on ABCB. Truist Financial set a $83.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 9th. Keefe, Bruyette & Woods increased their price target on shares of Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $80.00 price objective (up previously from $73.00) on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Piper Sandler set a $84.00 price objective on Ameris Bancorp in a research note on Wednesday, October 29th. Finally, DA Davidson started coverage on Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 target price on the stock.

Hedge Funds Weigh In On Ameris Bancorp

Several large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Ameris Bancorp by 3.0% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 5,231 shares of the bank’s stock valued at $384,000 after purchasing an additional 153 shares during the period. Lido Advisors LLC raised its holdings in Ameris Bancorp by 2.9% during the third quarter. Lido Advisors LLC now owns 6,294 shares of the bank’s stock valued at $463,000 after acquiring an additional 177 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Ameris Bancorp by 1.9% in the second quarter. Verdence Capital Advisors LLC now owns 9,535 shares of the bank’s stock valued at $617,000 after acquiring an additional 181 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Ameris Bancorp by 3.0% in the third quarter. Inspire Investing LLC now owns 6,183 shares of the bank’s stock worth $453,000 after acquiring an additional 181 shares during the period. Finally, Covestor Ltd grew its position in shares of Ameris Bancorp by 51.5% during the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Up 2.0%

Ameris Bancorp stock opened at $81.29 on Friday. Ameris Bancorp has a one year low of $48.27 and a one year high of $83.64. The stock has a fifty day moving average of $77.57 and a 200 day moving average of $73.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $5.55 billion, a PE ratio of 15.60 and a beta of 0.99.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Ameris Bancorp’s payout ratio is 13.84%.

Ameris Bancorp declared that its Board of Directors has initiated a share buyback plan on Monday, October 20th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the bank to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Ameris Bancorp Company Profile

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.