Ameris Bancorp (NASDAQ:ABCB) Price Target Raised to $73.00

Ameris Bancorp (NASDAQ:ABCB) had its price objective raised by Truist Financial from $69.00 to $73.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have a buy rating on the bank’s stock.

Several other research firms also recently commented on ABCB. Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the stock an outperform rating in a report on Monday, July 29th. DA Davidson increased their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the company a buy rating in a research note on Monday, July 29th. Finally, Stephens lifted their target price on shares of Ameris Bancorp from $52.00 to $64.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp has an average rating of Moderate Buy and an average price target of $67.00.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $64.08 on Friday. The stock has a fifty day moving average of $59.49 and a 200-day moving average of $52.10. The stock has a market cap of $4.43 billion, a PE ratio of 15.59 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. Ameris Bancorp has a fifty-two week low of $34.26 and a fifty-two week high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $273.67 million. During the same quarter last year, the firm posted $0.91 EPS. Equities research analysts anticipate that Ameris Bancorp will post 4.82 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, September 30th. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ABCB. 1620 Investment Advisors Inc. purchased a new stake in shares of Ameris Bancorp in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC boosted its holdings in shares of Ameris Bancorp by 66.1% in the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after buying an additional 326 shares during the last quarter. CWM LLC lifted 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 buying an additional 329 shares in the last quarter. Innealta Capital LLC bought a new stake in Ameris Bancorp during the second quarter valued at about $143,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ameris Bancorp in the first quarter worth $190,000. 91.64% of the stock is currently owned by institutional investors.

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.