Ameris Bancorp (NASDAQ:ABCB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ameris Bancorp (NASDAQ:ABCB) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $78.5714.

ABCB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on Ameris Bancorp from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Piper Sandler set a $84.00 price objective on Ameris Bancorp in a report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. DA Davidson assumed coverage on shares of Ameris Bancorp in a research note on Tuesday, November 25th. They set a “buy” rating and a $87.00 price objective on the stock. Finally, Truist Financial started coverage on shares of Ameris Bancorp in a report on Tuesday, November 25th. They issued a “hold” rating and a $80.00 target price on the stock.

Institutional Investors Weigh In On Ameris Bancorp

A number of large investors have recently added to or reduced their stakes in ABCB. Envestnet Portfolio Solutions Inc. raised its position in shares of Ameris Bancorp by 3.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 5,231 shares of the bank’s stock valued at $384,000 after purchasing an additional 153 shares during the period. SageView Advisory Group LLC increased its position in Ameris Bancorp by 2.5% during the 1st quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank’s stock worth $409,000 after buying an additional 176 shares during the period. Lido Advisors LLC boosted its holdings in Ameris Bancorp by 2.9% in the 3rd quarter. Lido Advisors LLC now owns 6,294 shares of the bank’s stock valued at $463,000 after purchasing an additional 177 shares during the period. State of Wyoming lifted its position in Ameris Bancorp by 8.3% during the first quarter. State of Wyoming now owns 2,346 shares of the bank’s stock worth $135,000 after purchasing an additional 179 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of Ameris Bancorp by 1.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 9,535 shares of the bank’s stock worth $617,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $73.98 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The business has a 50-day moving average of $74.98 and a 200-day moving average of $71.94. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.20 and a beta of 0.99. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $78.99.

Ameris Bancorp announced that its board has initiated a share buyback plan on Monday, October 20th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Wednesday, December 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 13.84%.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.