Ameris Bancorp (NASDAQ:ABCB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Averaging a "Moderate Buy" rating, Ameris Bancorp has received strong recommendations from brokerages, with six out of seven analysts suggesting a buy.
• The stock's average 12-month price target is $72.14, though recent reports show varied price targets ranging from $63.00 to $81.00.
• Ameris Bancorp has a dividend yield of 1.2% with a quarterly dividend of $0.20 per share, reflecting a 14.08% payout ratio.

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $72.1429.

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

Institutional Investors Weigh In On Ameris Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in ABCB. LPL Financial LLC lifted its position in Ameris Bancorp by 11.1% during the 4th quarter. LPL Financial LLC now owns 7,215 shares of the bank's stock worth $451,000 after buying an additional 721 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Ameris Bancorp by 13.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,110 shares of the bank's stock worth $257,000 after acquiring an additional 485 shares during the last quarter. Franklin Resources Inc. bought a new stake in Ameris Bancorp during the 4th quarter worth about $390,000. Wells Fargo & Company MN grew its holdings in Ameris Bancorp by 41.6% during the 4th quarter. Wells Fargo & Company MN now owns 44,237 shares of the bank's stock worth $2,768,000 after acquiring an additional 12,989 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Ameris Bancorp by 7.3% during the 4th quarter. Invesco Ltd. now owns 429,895 shares of the bank's stock worth $26,899,000 after acquiring an additional 29,281 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

Ameris Bancorp stock traded down $0.24 on Friday, hitting $66.86. The company's stock had a trading volume of 24,038 shares, compared to its average volume of 426,667. The firm has a market cap of $4.61 billion, a P/E ratio of 12.84 and a beta of 0.96. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $64.97 and a 200-day moving average price of $61.75. Ameris Bancorp has a one year low of $48.27 and a one year high of $74.56.

Ameris Bancorp Announces Dividend

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

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.