Ameris Bancorp (NYSE:ABCB) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Ameris Bancorp “Moderate Buy,” with four buy ratings and four hold ratings. The average 12-month price target is $91.67, above the reported opening price of $79.95.
• Ameris Bancorp missed quarterly expectations, reporting $1.60 in EPS versus the $1.66 consensus and revenue of $317.78 million versus estimates of $323.78 million.
• The company paid a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 dividend and a 1.0% yield, while institutional investors own 91.6% of outstanding shares.

Shares of Ameris Bancorp (NYSE:ABCB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $91.67.

Several equities analysts have recently issued reports on ABCB shares. Piper Sandler lowered 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 note on Monday, July 27th. Truist Financial reduced their target price on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Weiss Ratings assumed coverage on Ameris Bancorp in a research note on Wednesday, September 2nd. They set a "buy (b)" rating for the company. Raymond James Financial cut Ameris Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Finally, DA Davidson boosted their target price on Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 27th.

Ameris Bancorp Stock Down 0.6%

Shares of ABCB stock opened at $79.95 on Wednesday. Ameris Bancorp has a 1 year low of $68.80 and a 1 year high of $93.22. The stock has a market cap of $5.36 billion, a PE ratio of 14.46 and a beta of 0.96. The business's fifty day moving average is $85.17 and its 200-day moving average is $85.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.04.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.98% and a return on equity of 10.62%. The firm had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same quarter last year, the company earned $1.59 EPS. Equities analysts expect that Ameris Bancorp will post 6.61 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, September 30th. Ameris Bancorp's payout ratio is presently 14.47%.

Institutional Trading of Ameris Bancorp

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Ameris Bancorp in the second quarter worth approximately $881,798,000. North Reef Capital Management LP boosted its stake in Ameris Bancorp by 25.1% in the 1st quarter. North Reef Capital Management LP now owns 3,423,243 shares of the bank's stock worth $266,979,000 after purchasing an additional 686,215 shares during the period. Congress Asset Management Co. grew its position in Ameris Bancorp by 0.9% during the 3rd quarter. Congress Asset Management Co. now owns 1,202,889 shares of the bank's stock worth $95,654,000 after purchasing an additional 10,619 shares in the last quarter. Principal Financial Group Inc. grew its position in Ameris Bancorp by 9.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,057,347 shares of the bank's stock worth $82,463,000 after purchasing an additional 90,883 shares in the last quarter. Finally, Davis Asset Management L.P. acquired a new stake in Ameris Bancorp during the 2nd quarter valued at $56,124,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp NYSE: ABCB is a financial holding company whose principal subsidiary, Ameris Bank, provides banking and financial services to individuals, businesses and institutions. The bank offers deposit accounts, commercial and consumer lending, residential mortgages, treasury and payment services, wealth management and other financial solutions.

Founded in 1971, Ameris Bank has grown from a community banking institution in Georgia into a regional bank serving customers across the southeastern United States.

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