Analysts Set Ameris Bancorp (NASDAQ:ABCB) Price Target at $71.43

Ameris Bancorp (NASDAQ:ABCB) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $71.43.

Several equities analysts have recently weighed in on the company. Piper Sandler assumed coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an “overweight” rating and a $74.00 price target for the company. Piper Sandler Companies increased their price target on shares of Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Stephens reaffirmed an “equal weight” rating and set a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Finally, Raymond James Financial cut their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management lifted its stake in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ameris Bancorp in the fourth quarter worth about $37,000. Versant Capital Management Inc lifted its stake 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. Smartleaf Asset Management LLC lifted its stake in shares of Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock valued at $90,000 after acquiring an additional 896 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Ameris Bancorp during the 4th quarter valued at about $105,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Trading Up 0.5%

ABCB opened at $60.96 on Thursday. The stock has a market cap of $4.20 billion, a PE ratio of 11.70 and a beta of 0.93. The company has a fifty day moving average of $59.76 and a 200-day moving average of $61.14. 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 twelve month low of $47.65 and a twelve month high of $74.56.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $285.86 million for the quarter, compared to analyst estimates of $276.06 million. During the same period last year, the firm earned $1.10 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.81%.

Ameris Bancorp Company Profile

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.