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

Ameris Bancorp (NASDAQ:ABCB) had its price target boosted by investment analysts at Truist Financial from $69.00 to $73.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Truist Financial’s price target indicates a potential upside of 12.65% from the stock’s current price.

Other research analysts have also issued research reports about the company. Stephens increased their target price on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson lifted their target price 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB traded down $0.34 during midday trading on Friday, reaching $64.80. 165,154 shares of the stock were exchanged, compared to its average volume of 357,355. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 15.77 and a beta of 1.02. Ameris Bancorp has a twelve month low of $34.26 and a twelve month high of $65.40. The firm has a 50-day simple moving average of $59.30 and a two-hundred day simple moving average of $51.91. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The firm had revenue of $436.03 million for the quarter, compared to analyst estimates of $273.67 million. During the same quarter last year, the firm posted $0.91 EPS. As a group, analysts anticipate that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Institutional Trading of Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. 1620 Investment Advisors Inc. purchased a new stake in shares of Ameris Bancorp during the second quarter worth approximately $33,000. GAMMA Investing LLC increased its position in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after purchasing an additional 326 shares during the last quarter. CWM LLC raised its holdings in shares of Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after purchasing an additional 329 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth $143,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ameris Bancorp during the 1st quarter worth $190,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.