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

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 stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.43.

Several equities research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 target price on the stock. Stephens reaffirmed 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 reduced their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, 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.

Insider Buying and Selling

In other news, insider Douglas D. Strange bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares of the company's stock, valued at $1,105,000.85. This trade represents a 5.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors have recently modified their holdings of ABCB. Picton Mahoney Asset Management grew its stake in Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after acquiring an additional 463 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth $37,000. Versant Capital Management Inc grew its position in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after purchasing an additional 334 shares during the period. R Squared Ltd acquired a new position in Ameris Bancorp in the fourth quarter valued at $51,000. Finally, Blue Trust Inc. lifted its position in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB traded up $0.24 during mid-day trading on Friday, reaching $61.83. The stock had a trading volume of 237,049 shares, compared to its average volume of 404,802. Ameris Bancorp has a twelve month low of $45.90 and a twelve month high of $74.56. The business has a 50 day simple moving average of $57.60 and a 200 day simple moving average of $62.16. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 11.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

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

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Ameris Bancorp's dividend payout ratio (DPR) is 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.