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

Shares of Ameris Bancorp (NASDAQ:ABCB) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $70.50.

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

Ameris Bancorp Price Performance

NASDAQ ABCB opened at $64.95 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 12.47 and a beta of 1.06. The company has a 50 day simple moving average of $64.38 and a 200-day simple moving average of $63.72. Ameris Bancorp has a 52-week low of $44.22 and a 52-week high of $74.56.

Ameris Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. Norges Bank bought a new position in shares of Ameris Bancorp in the fourth quarter worth about $48,380,000. JPMorgan Chase & Co. grew its holdings in Ameris Bancorp by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after buying an additional 223,805 shares during the last quarter. North Reef Capital Management LP increased its position in Ameris Bancorp by 8.9% in the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank’s stock worth $158,490,000 after buying an additional 208,000 shares during the period. Jennison Associates LLC bought a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $10,856,000. Finally, Point72 Asset Management L.P. increased its position in Ameris Bancorp by 150.3% during the fourth quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank’s stock worth $18,039,000 after acquiring an additional 173,106 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.