Analysts Set Ameris Bancorp (NASDAQ:ABCB) PT at $66.67

Ameris Bancorp (NASDAQ:ABCB) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $66.67.

ABCB has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Raymond James upgraded shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Stephens increased their target price on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Truist Financial dropped their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th.

Insider Buying and Selling

In related news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the transaction, the director now owns 27,444 shares in the company, valued at $1,918,610.04. This represents a 22.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp in the 2nd quarter valued at about $33,000. GAMMA Investing LLC grew its position in 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 buying an additional 326 shares in the last quarter. Blue Trust Inc. grew its position in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after buying an additional 509 shares in the last quarter. CWM LLC boosted its position in shares of Ameris Bancorp by 33.5% during 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. Finally, US Bancorp DE boosted its position in shares of Ameris Bancorp by 3,396.4% during the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock valued at $120,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

Shares of ABCB stock opened at $68.59 on Friday. The company has a market capitalization of $4.74 billion, a PE ratio of 14.75 and a beta of 1.03. The firm has a fifty day simple moving average of $65.30 and a 200-day simple moving average of $58.50. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a twelve month low of $44.00 and a twelve month high of $74.56.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The business had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities research analysts anticipate that Ameris Bancorp will post 4.83 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

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.