Ameris Bancorp (NASDAQ:ABCB) Given Average Rating of “Moderate Buy” by Brokerages

Ameris Bancorp (NASDAQ:ABCB) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $66.67.

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Truist Financial reduced their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Stephens lifted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. DA Davidson upped their price target on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th.

Ameris Bancorp Stock Up 0.5 %

NASDAQ:ABCB opened at $69.70 on Wednesday. Ameris Bancorp has a 1 year low of $38.71 and a 1 year high of $71.96. The stock has a 50-day moving average price of $62.47 and a two-hundred day moving average price of $56.13. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 14.52 and a beta of 1.01. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. During the same period in the previous year, the firm earned $1.16 EPS. As a group, equities analysts expect that Ameris Bancorp will post 4.83 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is 12.50%.

Insider Activity

In related news, Director Robert Dale Ezzell sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total transaction of $559,280.00. Following the transaction, the director now directly owns 27,444 shares in the company, valued at approximately $1,918,610.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameris Bancorp

Several hedge funds have recently bought and sold shares of ABCB. Jupiter Asset Management Ltd. bought a new stake in Ameris Bancorp in the first quarter valued at approximately $3,869,000. Quantbot Technologies LP acquired a new stake in Ameris Bancorp during the 1st quarter valued at $1,154,000. Seven Eight Capital LP lifted its holdings in Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after purchasing an additional 15,343 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Ameris Bancorp by 181.3% during the first quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock worth $2,517,000 after purchasing an additional 33,531 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Ameris Bancorp in the first quarter valued at $460,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.