Analysts Set Ameris Bancorp (NASDAQ:ABCB) Target Price at $70.50

Ameris Bancorp (NASDAQ:ABCB) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $70.50.

A number of equities research analysts have issued reports on ABCB shares. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James reissued an “outperform” rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Truist Financial lowered their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management lifted its stake in shares of 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 acquiring an additional 463 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ameris Bancorp in the fourth quarter worth about $51,000. GAMMA Investing LLC lifted its stake in shares of Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $66.12 on Friday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 12.69 and a beta of 1.06. The stock has a fifty day moving average price of $64.52 and a 200 day moving average price of $63.57. Ameris Bancorp has a 52 week low of $44.22 and a 52 week high of $74.56. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were given a $0.20 dividend. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

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.