Ameris Bancorp (NASDAQ:ABCB) Receives Average Recommendation of "Moderate Buy" from Analysts

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.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $72.1429.

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

Ameris Bancorp Stock Up 0.2%

Shares of Ameris Bancorp stock traded up $0.16 on Tuesday, reaching $72.81. The stock had a trading volume of 257,836 shares, compared to its average volume of 424,777. The company has a 50 day moving average price of $68.53 and a 200 day moving average price of $62.45. 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 1 year low of $48.27 and a 1 year high of $74.56. The stock has a market capitalization of $4.99 billion, a P/E ratio of 13.98 and a beta of 0.97.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's payout ratio is currently 14.08%.

Institutional Trading of Ameris Bancorp

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC grew its position in Ameris Bancorp by 2,311.8% during the 2nd quarter. True Wealth Design LLC now owns 410 shares of the bank's stock worth $27,000 after purchasing an additional 393 shares during the last quarter. Farther Finance Advisors LLC grew its position in Ameris Bancorp by 73.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 492 shares of the bank's stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in Ameris Bancorp during the 4th quarter worth approximately $37,000. Allworth Financial LP grew its position in Ameris Bancorp by 1,567.6% during the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank's stock worth $37,000 after purchasing an additional 533 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Ameris Bancorp by 84.1% in the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after acquiring an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

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.