Ameris Bancorp (NYSE:ABCB) Price Target Raised to $87.00

Ameris Bancorp (NYSE:ABCB) had its price target lifted by Truist Financial from $84.00 to $87.00 in a report issued on Wednesday, Marketbeat.com reports. They currently have a hold rating on the bank’s stock.

ABCB has been the subject of a number of other reports. DA Davidson reduced their price target on shares of Ameris Bancorp from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a report on Monday, July 27th. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Piper Sandler dropped their price target on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Ameris Bancorp Price Performance

Shares of ABCB opened at $82.31 on Wednesday. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.03. Ameris Bancorp has a one year low of $69.58 and a one year high of $93.22. The stock’s fifty day moving average is $82.49 and its 200-day moving average is $83.67.

Ameris Bancorp (NYSE:ABCB) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. The business had revenue of $320.94 million during the quarter, compared to the consensus estimate of $326.72 million. Ameris Bancorp had a net margin of 22.47% and a return on equity of 10.81%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. Equities analysts anticipate that Ameris Bancorp will post 6.63 EPS for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 13.99%.

Institutional Trading of Ameris Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in Ameris Bancorp in the 3rd quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Ameris Bancorp during the 2nd quarter worth approximately $34,000. Public Employees Retirement System of Ohio purchased a new position in Ameris Bancorp during the 2nd quarter worth approximately $66,000. Allworth Financial LP acquired a new stake in Ameris Bancorp during the 2nd quarter valued at $67,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Ameris Bancorp during the 2nd quarter valued at $91,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.