Ameris Bancorp (NYSE:ABCB) Stock Has Average Target Price of $90.50 According to Analysts

Ameris Bancorp (NYSE:ABCB) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $90.50.

A number of research firms have weighed in on ABCB. Wall Street Zen raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Stephens set a $88.00 price target on Ameris Bancorp in a research report on Monday, July 27th. DA Davidson cut their price target on Ameris Bancorp from $100.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Piper Sandler reduced their price objective on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Finally, Truist Financial boosted their price objective on Ameris Bancorp from $84.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Ameris Bancorp by 35.4% during the third quarter. Allworth Financial LP now owns 1,010 shares of the bank’s stock worth $80,000 after purchasing an additional 264 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Ameris Bancorp by 69.7% during the third quarter. Russell Investments Group Ltd. now owns 189,255 shares of the bank’s stock worth $15,050,000 after buying an additional 77,762 shares during the period. R Squared Ltd acquired a new stake in shares of Ameris Bancorp in the third quarter valued at $466,000. Maryland State Retirement & Pension System grew its stake in shares of Ameris Bancorp by 52.1% in the third quarter. Maryland State Retirement & Pension System now owns 13,974 shares of the bank’s stock valued at $1,111,000 after buying an additional 4,788 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Ameris Bancorp by 16.7% in the 3rd quarter. Lido Advisors LLC now owns 9,012 shares of the bank’s stock valued at $717,000 after buying an additional 1,287 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

NYSE ABCB opened at $81.79 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.03 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $82.20 and its 200-day simple moving average is $83.76. The company has a market cap of $5.49 billion, a PE ratio of 14.30 and a beta of 0.99. Ameris Bancorp has a 1-year low of $69.58 and a 1-year high of $93.22.

Ameris Bancorp (NYSE:ABCB) last issued its earnings results on Thursday, October 22nd. The bank reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $320.94 million during the quarter, compared to analysts’ expectations of $326.72 million. Ameris Bancorp had a net margin of 22.47% and a return on equity of 10.81%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, equities research analysts anticipate that Ameris Bancorp will post 6.63 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Wednesday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 13.99%.

Ameris Bancorp Company Profile

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.