Ameris Bancorp (NASDAQ:ABCB) Receives $71.43 Average Price Target from Analysts

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) has received an average rating of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $71.43.

A number of research firms recently weighed in on ABCB. Piper Sandler Companies upped their price target on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Stephens reaffirmed an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a report on Tuesday, April 29th. Raymond James Financial reduced 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, Piper Sandler began coverage on Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target for the company.

Hedge Funds Weigh In On Ameris Bancorp

A number of hedge funds have recently made changes to their positions in ABCB. US Bancorp DE raised its holdings in shares of Ameris Bancorp by 47.8% during the fourth quarter. US Bancorp DE now owns 2,842 shares of the bank's stock valued at $178,000 after acquiring an additional 919 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $1,585,000. Raymond James Financial Inc. acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $2,016,000. Amundi increased its holdings in shares of Ameris Bancorp by 188.9% in the fourth quarter. Amundi now owns 33,579 shares of the bank's stock valued at $2,055,000 after purchasing an additional 21,957 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ameris Bancorp by 23.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,977 shares of the bank's stock valued at $1,062,000 after purchasing an additional 3,244 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

Shares of ABCB stock traded up $0.99 on Monday, hitting $67.44. The company had a trading volume of 286,035 shares, compared to its average volume of 400,000. The firm has a market cap of $4.65 billion, a P/E ratio of 12.94 and a beta of 0.93. The company has a 50-day moving average price of $63.45 and a 200-day moving average price of $61.28. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. The company had revenue of $285.86 million during the quarter, compared to analysts' expectations of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. Ameris Bancorp's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, equities research analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. Ameris Bancorp's payout ratio is currently 14.81%.

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.