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

Shares of Ameris Bancorp (NASDAQ:ABCB) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $66.20.

Several research firms recently issued reports on ABCB. Stephens raised their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. DA Davidson boosted their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Truist Financial raised their price objective on shares of Ameris Bancorp from $54.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, July 29th.

Ameris Bancorp Trading Up 1.3 %

Shares of NASDAQ ABCB opened at $61.84 on Tuesday. Ameris Bancorp has a 1-year low of $34.26 and a 1-year high of $64.88. The company has a 50-day moving average of $58.64 and a two-hundred day moving average of $51.62. The company has a market cap of $4.27 billion, a PE ratio of 15.05 and a beta of 1.02. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.03. The firm had revenue of $436.03 million during the quarter, compared to analysts’ expectations of $273.67 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, equities analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABCB. Norges Bank bought a new position in shares of Ameris Bancorp during the 4th quarter valued at about $39,787,000. Hsbc Holdings PLC increased its position in shares of Ameris Bancorp by 4,193.6% during the fourth quarter. Hsbc Holdings PLC now owns 229,408 shares of the bank’s stock worth $12,163,000 after acquiring an additional 224,065 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Ameris Bancorp by 75.0% during the first 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 during the period. Vanguard Group Inc. lifted its position in Ameris Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock valued at $365,771,000 after acquiring an additional 92,491 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in Ameris Bancorp in the 1st quarter valued at $3,869,000. 91.64% of the stock is owned by institutional investors and hedge funds.

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.