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

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $72.1429.

Several brokerages have issued reports on ABCB. DA Davidson set a $81.00 price target on Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Raymond James Financial lowered their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Stephens restated an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a report on Tuesday, April 29th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. North Reef Capital Management LP boosted its position in Ameris Bancorp by 8.9% during the fourth quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock valued at $158,490,000 after purchasing an additional 208,000 shares during the last quarter. American Century Companies Inc. boosted its position in Ameris Bancorp by 36.2% during the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock valued at $107,955,000 after purchasing an additional 498,604 shares during the last quarter. Nuveen LLC acquired a new position in Ameris Bancorp during the first quarter valued at approximately $56,202,000. Congress Asset Management Co. lifted its position in shares of Ameris Bancorp by 1.0% in the second quarter. Congress Asset Management Co. now owns 943,041 shares of the bank's stock valued at $61,015,000 after buying an additional 9,548 shares during the last quarter. Finally, FJ Capital Management LLC lifted its position in shares of Ameris Bancorp by 311.3% in the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock valued at $45,209,000 after buying an additional 594,340 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Down 1.1%

Shares of Ameris Bancorp stock opened at $66.05 on Friday. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $74.56. The business has a 50-day moving average of $64.86 and a two-hundred day moving average of $61.78. The company has a market capitalization of $4.55 billion, a P/E ratio of 12.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio is currently 14.08%.

About Ameris Bancorp

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.

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