Ameris Bancorp (NASDAQ:ABCB) Price Target Raised to $57.00

Ameris Bancorp (NASDAQ:ABCB) had its target price lifted by Piper Sandler from $55.00 to $57.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other research analysts have also recently commented on the company. StockNews.com cut Ameris Bancorp from a hold rating to a sell rating in a report on Thursday, March 21st. Stephens restated an equal weight rating and set a $53.00 target price on shares of Ameris Bancorp in a research report on Friday, April 26th. Truist Financial cut their target price on shares of Ameris Bancorp from $60.00 to $54.00 and set a buy rating for the company in a research note on Monday, April 1st. Finally, DA Davidson reiterated a buy rating on shares of Ameris Bancorp in a research note on Monday, January 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ameris Bancorp presently has an average rating of Moderate Buy and a consensus target price of $52.00.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $48.03 on Monday. The stock’s fifty day moving average is $46.63 and its 200 day moving average is $46.41. Ameris Bancorp has a one year low of $28.33 and a one year high of $53.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market cap of $3.31 billion, a P/E ratio of 11.73 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, April 26th. The bank reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $267.27 million during the quarter, compared to the consensus estimate of $258.05 million. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. Ameris Bancorp’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Sell-side analysts anticipate that Ameris Bancorp will post 4.55 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.60%.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of Ameris Bancorp stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the transaction, the insider now directly owns 59,691 shares of the company’s stock, valued at approximately $2,826,368.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameris Bancorp

Several institutional investors have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in Ameris Bancorp by 1.4% during the 4th quarter. Raymond James & Associates now owns 16,791 shares of the bank’s stock worth $891,000 after acquiring an additional 235 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Ameris Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 18,765 shares of the bank’s stock worth $720,000 after purchasing an additional 251 shares during the last quarter. Assetmark Inc. boosted its position in Ameris Bancorp by 11.1% during the third quarter. Assetmark Inc. now owns 4,565 shares of the bank’s stock valued at $175,000 after purchasing an additional 456 shares in the last quarter. Argent Trust Co grew its position in shares of Ameris Bancorp by 2.3% in the 3rd quarter. Argent Trust Co now owns 21,500 shares of the bank’s stock worth $825,000 after buying an additional 481 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Ameris Bancorp by 4.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,344 shares of the bank’s stock worth $435,000 after purchasing an additional 500 shares in the last quarter. 91.64% of the stock is 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.