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

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $71.43.

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

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded up $0.72 on Monday, reaching $67.17. 12,596 shares of the company traded hands, compared to its average volume of 399,629. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $74.56. The company's 50 day moving average is $63.31 and its 200-day moving average is $61.25. The stock has a market capitalization of $4.63 billion, a PE ratio of 12.88 and a beta of 0.93. 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 (NASDAQ:ABCB - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The bank reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.81%.

Hedge Funds Weigh In On Ameris Bancorp

A number of hedge funds have recently modified their holdings of ABCB. Nuveen LLC acquired a new position in shares of Ameris Bancorp in the first quarter worth $56,202,000. Norges Bank acquired a new position in Ameris Bancorp during the fourth quarter worth $48,380,000. FJ Capital Management LLC increased its position in Ameris Bancorp by 311.3% during the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock worth $45,209,000 after buying an additional 594,340 shares during the last quarter. American Century Companies Inc. increased 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 worth $107,955,000 after buying an additional 498,604 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in Ameris Bancorp during the second quarter worth $21,850,000. 91.64% of the stock is owned by institutional investors and hedge funds.

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.