Ameris Bancorp (ABCB) – Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Ameris Bancorp (NASDAQ: ABCB) recently:

• 7/29/2024 – Ameris Bancorp had its price target raised by analysts at Keefe, Bruyette & Woods from $60.00 to $65.00. They now have an “outperform” rating on the stock.
• 7/29/2024 – Ameris Bancorp had its price target raised by analysts at Stephens from $52.00 to $64.00. They now have an “equal weight” rating on the stock.
• 7/29/2024 – Ameris Bancorp had its price target raised by analysts at Truist Financial Co. from $54.00 to $69.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Ameris Bancorp had its price target raised by analysts at DA Davidson from $61.00 to $76.00. They now have a “buy” rating on the stock.

Ameris Bancorp Price Performance

ABCB stock opened at $56.18 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. Ameris Bancorp has a 12 month low of $34.26 and a 12 month high of $64.88. The firm has a market cap of $3.88 billion, a P/E ratio of 13.67 and a beta of 1.04. The company’s 50-day moving average price is $53.34 and its two-hundred day moving average price is $49.60.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.03. The company had revenue of $436.03 million for the quarter, compared to analyst estimates of $273.67 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same period in the previous year, the firm posted $0.91 EPS. On average, analysts anticipate that Ameris Bancorp will post 4.67 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Sunday, June 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 14.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ABCB. Raymond James & Associates raised its stake in Ameris Bancorp by 1.4% in the fourth quarter. Raymond James & Associates now owns 16,791 shares of the bank’s stock valued at $891,000 after purchasing an additional 235 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Ameris Bancorp by 66.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after purchasing an additional 326 shares during the period. CWM LLC grew its stake 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 acquiring an additional 329 shares during the period. Arizona State Retirement System lifted its holdings in Ameris Bancorp by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock worth $924,000 after purchasing an additional 331 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in Ameris Bancorp by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,626 shares of the bank’s stock worth $2,740,000 after purchasing an additional 554 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.