Ameris Bancorp (NASDAQ:ABCB) PT Raised to $73.00

Ameris Bancorp (NASDAQ:ABCB) had its price target hoisted by Truist Financial from $69.00 to $73.00 in a report published on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also issued reports on ABCB. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an outperform rating in a report on Monday, July 29th. Stephens upped their target price on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an equal weight rating in a report on Monday, July 29th. Finally, DA Davidson boosted their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the company a buy rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of Moderate Buy and a consensus price target of $67.00.

Ameris Bancorp Stock Down 1.6 %

ABCB stock opened at $64.08 on Friday. Ameris Bancorp has a 52 week low of $34.26 and a 52 week high of $65.40. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $52.10. The stock has a market capitalization of $4.43 billion, a P/E ratio of 15.59 and a beta of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same period last year, the company earned $0.91 EPS. Equities analysts forecast that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.94%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Institutional Trading of Ameris Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in shares of Ameris Bancorp in the 1st quarter valued at about $3,869,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameris Bancorp by 75.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after acquiring an additional 178,500 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $1,154,000. Congress Asset Management Co. MA grew its holdings in shares of Ameris Bancorp by 5.5% in the 1st quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after acquiring an additional 40,323 shares during the period. Finally, Seven Eight Capital LP increased its stake in Ameris Bancorp by 218.6% in the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after purchasing an additional 15,343 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About Ameris Bancorp

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.