Ameris Bancorp (NASDAQ:ABCB) Receives Consensus Rating of “Moderate Buy” from Analysts

Ameris Bancorp (NASDAQ:ABCB) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $70.50.

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

Hedge Funds Weigh In On Ameris Bancorp

Several institutional investors have recently modified their holdings of ABCB. Victory Capital Management Inc. raised its position in Ameris Bancorp by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock valued at $53,861,000 after buying an additional 12,054 shares during the last quarter. Principal Financial Group Inc. raised its position in Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after buying an additional 55,473 shares during the last quarter. Stifel Financial Corp raised its position in Ameris Bancorp by 13.9% in the 3rd quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock valued at $1,317,000 after buying an additional 2,575 shares during the last quarter. Point72 Asset Management L.P. raised its position in Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after buying an additional 66,287 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Ameris Bancorp in the 3rd quarter valued at approximately $233,000. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $66.73 on Friday. Ameris Bancorp has a twelve month low of $44.22 and a twelve month high of $74.56. The firm has a market cap of $4.61 billion, a PE ratio of 12.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The business has a fifty day moving average of $64.59 and a 200-day moving average of $63.50.

Ameris Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is 15.36%.

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.