Brokerages Set Ameris Bancorp (NASDAQ:ABCB) PT at $72.14

Key Points

• Ameris Bancorp (NASDAQ:ABCB) has received a consensus rating of "Moderate Buy" from analysts, with six firms recommending a buy and one a hold.
• The company recently announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 1.1% based on its current stock price.
• As of the latest trading day, Ameris Bancorp's stock opened at $73.36, with a market cap of $5.03 billion and a 12-month price range between $48.27 and $74.56.

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $72.1429.

Separately, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the company a "buy" rating in a research note on Wednesday, July 30th.

Institutional Investors Weigh In On Ameris Bancorp

A number of institutional investors have recently modified their holdings of the stock. Hohimer Wealth Management LLC acquired a new stake in shares of Ameris Bancorp during the 2nd quarter valued at $250,000. Public Sector Pension Investment Board boosted its stake in shares of Ameris Bancorp by 7.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 219,972 shares of the bank's stock valued at $14,232,000 after buying an additional 14,840 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Ameris Bancorp by 86.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,871 shares of the bank's stock valued at $574,000 after buying an additional 4,103 shares during the period. State of Tennessee Department of Treasury increased its stake in shares of Ameris Bancorp by 11.0% during the 2nd quarter. State of Tennessee Department of Treasury now owns 35,326 shares of the bank's stock worth $2,286,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Ameris Bancorp by 31.5% during the 2nd quarter. Captrust Financial Advisors now owns 6,121 shares of the bank's stock worth $396,000 after purchasing an additional 1,465 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Down 0.7%

Ameris Bancorp stock traded down $0.52 during mid-day trading on Tuesday, hitting $73.95. The company's stock had a trading volume of 368,287 shares, compared to its average volume of 423,637. The firm's 50 day moving average is $68.90 and its 200 day moving average is $62.54. The company has a market cap of $5.07 billion, a PE ratio of 14.19 and a beta of 0.97. 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 has a 52-week low of $48.27 and a 52-week high of $75.46.

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.