Ameris Bancorp (NYSE:ABCB) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Ameris Bancorp has a “Moderate Buy” consensus among eight analysts, split evenly between buy and hold ratings. The average 12-month price target is $91.67, modestly above the reported share price of $84.62.
• The bank’s latest quarterly results fell short of expectations, with EPS of $1.60 versus the $1.66 consensus and revenue of $317.78 million versus estimates of $323.78 million.
• Ameris Bancorp declared a quarterly dividend of $0.20, equivalent to $0.80 annually and a 0.9% yield. Institutional investors own approximately 91.6% of the company’s shares.

Ameris Bancorp (NYSE:ABCB - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $91.6667.

ABCB has been the subject of a number of recent analyst reports. Raymond James Financial lowered Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Truist Financial dropped their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating on the stock in a report on Tuesday, July 28th. Stephens set a $88.00 price target on shares of Ameris Bancorp in a research note on Monday, July 27th. DA Davidson increased their price objective on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Morgan Stanley upgraded shares of Ameris Bancorp to an "overweight" rating in a report on Wednesday, June 24th.

Ameris Bancorp Price Performance

ABCB opened at $84.62 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 15.30 and a beta of 0.91. The stock has a fifty day simple moving average of $87.81 and a two-hundred day simple moving average of $84.60. Ameris Bancorp has a 12-month low of $68.80 and a 12-month high of $93.22.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.98% and a return on equity of 10.62%. The business had revenue of $317.78 million for the quarter, compared to analysts' expectations of $323.78 million. During the same period last year, the business earned $1.59 earnings per share. Research analysts predict that Ameris Bancorp will post 6.58 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is 14.47%.

Institutional Trading of Ameris Bancorp

Several large investors have recently modified their holdings of ABCB. Engineers Gate Manager LP bought a new position in Ameris Bancorp in the second quarter valued at about $3,041,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ameris Bancorp during the 2nd quarter valued at about $91,000. NewEdge Advisors LLC increased its position in shares of Ameris Bancorp by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 10,892 shares of the bank's stock valued at $983,000 after purchasing an additional 212 shares during the last quarter. Waverly Advisors LLC lifted its stake in shares of Ameris Bancorp by 1.4% in the 2nd quarter. Waverly Advisors LLC now owns 11,815 shares of the bank's stock worth $1,066,000 after purchasing an additional 161 shares during the period. Finally, Nykredit A S bought a new position in shares of Ameris Bancorp in the 2nd quarter worth approximately $231,000. Institutional investors own 91.60% of the company's stock.

About Ameris Bancorp

Ameris Bancorp is the bank holding company for Ameris Bank, a full-service community bank headquartered in Atlanta, Georgia. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and institutions.

Ameris Bank offers deposit accounts, commercial and consumer loans, residential mortgages, home equity financing, treasury management and payment services. The bank also provides wealth management, investment and insurance-related services, along with digital and mobile banking capabilities.

Founded in 1971, Ameris Bank serves communities primarily across the southeastern United States, including Georgia, Alabama, Florida, South Carolina and North Carolina.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.