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

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) has earned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, MarketBeat 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 twelve-month target price among brokerages that have issued ratings on the stock in the last year is $71.43.

ABCB has been the subject of several research analyst reports. Piper Sandler assumed coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 target price for the company. Stephens reaffirmed an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Piper Sandler Companies lifted their target price on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Finally, Raymond James decreased their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This trade represents a 5.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by company insiders.

Institutional Trading of Ameris Bancorp

A number of large investors have recently made changes to their positions in ABCB. Nuveen LLC purchased a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $56,202,000. Norges Bank purchased a new stake in shares of Ameris Bancorp during the 4th quarter worth $48,380,000. FJ Capital Management LLC grew its stake in shares of 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 purchasing an additional 594,340 shares in the last quarter. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 498,604 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Ameris Bancorp by 189.7% in the first quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock valued at $28,940,000 after buying an additional 329,196 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Down 0.1%

ABCB traded down $0.04 during trading hours on Friday, reaching $61.55. The company's stock had a trading volume of 32,163 shares, compared to its average volume of 403,512. The stock has a market cap of $4.24 billion, a PE ratio of 11.81 and a beta of 0.91. Ameris Bancorp has a fifty-two week low of $45.89 and a fifty-two week high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The business's 50-day moving average is $57.55 and its 200-day moving average is $62.23.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced 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. The business had revenue of $285.86 million for the quarter, compared to analyst estimates of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's payout ratio is currently 14.81%.

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.