Ameris Bancorp (ABCB) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst consensus is “Moderate Buy”: Eight brokerages are evenly split between buy and hold ratings, with an average 12-month price target of $90.50 versus the stock’s $82.31 opening price.
• Ameris Bancorp exceeded quarterly earnings expectations: The bank reported $1.73 in EPS, ahead of the $1.68 consensus, while revenue rose 2.4% year over year to $320.94 million but fell short of estimates.
• The company pays a modest dividend and has strong institutional backing: Its quarterly dividend is $0.20 per share, equating to a 1.0% yield, while institutional investors own 91.6% of outstanding shares.

Ameris Bancorp (NYSE:ABCB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $90.50.

ABCB has been the subject of several research analyst reports. Truist Financial lifted their price target on shares of Ameris Bancorp from $84.00 to $87.00 and gave the company a "hold" rating in a research note on Wednesday. Piper Sandler cut their price objective on shares of Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Wall Street Zen upgraded Ameris Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Stephens set a $88.00 target price on Ameris Bancorp in a research note on Monday, July 27th. Finally, DA Davidson decreased their target price on Ameris Bancorp from $100.00 to $96.00 and set a "buy" rating for the company in a research report on Tuesday.

Ameris Bancorp Stock Performance

NYSE ABCB opened at $82.31 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.39 and a beta of 0.96. The firm's 50 day simple moving average is $82.49 and its 200 day simple moving average is $83.67. Ameris Bancorp has a 1 year low of $69.58 and a 1 year high of $93.22.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last announced its earnings results on Thursday, October 22nd. The bank reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The business had revenue of $320.94 million for the quarter, compared to analysts' expectations of $326.72 million. Ameris Bancorp had a return on equity of 10.81% and a net margin of 22.47%. The firm's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, research analysts expect that Ameris Bancorp will post 6.63 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, October 5th. Investors of record on Wednesday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 annualized dividend and a yield of 1.0%. Ameris Bancorp's dividend payout ratio is 13.99%.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC purchased a new stake in Ameris Bancorp in the 3rd quarter worth about $243,000. Cahaba Wealth Management Inc. raised its stake in Ameris Bancorp by 5.4% in the 3rd quarter. Cahaba Wealth Management Inc. now owns 17,159 shares of the bank's stock valued at $1,364,000 after acquiring an additional 876 shares during the period. Gibbs Wealth Management lifted its holdings in Ameris Bancorp by 6.6% during the third quarter. Gibbs Wealth Management now owns 13,132 shares of the bank's stock valued at $1,044,000 after purchasing an additional 810 shares during the last quarter. Inspire Investing LLC lifted its holdings in Ameris Bancorp by 6.0% during the third quarter. Inspire Investing LLC now owns 7,988 shares of the bank's stock valued at $635,000 after purchasing an additional 455 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Ameris Bancorp during the third quarter worth about $27,000. 91.60% of the stock is owned by institutional investors.

About Ameris Bancorp

Ameris Bancorp NYSE: ABCB is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.

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