Analysts Set Ameris Bancorp (NASDAQ:ABCB) Target Price at $67.00

Shares of Ameris Bancorp (NASDAQ:ABCB) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $67.00.

ABCB has been the subject of several research analyst reports. DA Davidson raised their price target on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Stephens raised their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Truist Financial raised their price target on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a report on Friday, September 20th.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $3,869,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Ameris Bancorp by 75.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after acquiring an additional 178,500 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $1,154,000. Congress Asset Management Co. MA lifted its stake in shares of Ameris Bancorp by 5.5% during the 1st quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after acquiring an additional 40,323 shares during the last quarter. Finally, Seven Eight Capital LP lifted its stake in shares of Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock worth $1,082,000 after acquiring an additional 15,343 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $63.95 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $65.40. The stock has a 50-day moving average price of $60.21 and a 200 day moving average price of $53.74. The stock has a market capitalization of $4.42 billion, a P/E ratio of 15.56 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The firm had revenue of $436.03 million during the quarter, compared to analysts’ expectations of $273.67 million. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts forecast that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s payout ratio is 14.60%.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.