Brokerages Set Ameris Bancorp (ABCB) PT at $56.75

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned an average rating of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.75.

Several equities research analysts have recently weighed in on ABCB shares. BidaskClub raised shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. TheStreet lowered shares of Ameris Bancorp from a “b-” rating to a “c+” rating in a report on Monday, December 24th. Piper Jaffray Companies raised shares of Ameris Bancorp from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $49.50 to $48.00 in a report on Tuesday, December 18th. Stephens reaffirmed a “buy” rating and issued a $58.00 target price on shares of Ameris Bancorp in a report on Monday, October 22nd. Finally, ValuEngine downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, December 7th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Ameris Bancorp by 5.5% during the 3rd quarter. BlackRock Inc. now owns 5,892,046 shares of the bank’s stock valued at $269,265,000 after purchasing an additional 308,324 shares during the period. Vanguard Group Inc. lifted its position in Ameris Bancorp by 10.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after purchasing an additional 411,255 shares during the period. Vanguard Group Inc lifted its position in Ameris Bancorp by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after purchasing an additional 411,255 shares during the period. Dimensional Fund Advisors LP lifted its position in Ameris Bancorp by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,639,172 shares of the bank’s stock valued at $87,451,000 after purchasing an additional 24,674 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Ameris Bancorp by 18.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,592,242 shares of the bank’s stock valued at $72,766,000 after purchasing an additional 244,881 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.

ABCB opened at $34.00 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.01. Ameris Bancorp has a twelve month low of $29.97 and a twelve month high of $59.05. The stock has a market capitalization of $1.64 billion, a PE ratio of 13.71 and a beta of 1.39.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Ameris Bancorp had a net margin of 17.99% and a return on equity of 11.14%. The business had revenue of $129.21 million for the quarter, compared to analyst estimates of $135.44 million. Analysts expect that Ameris Bancorp will post 3.3 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were given a dividend of $0.10 per share. The ex-dividend date was Friday, December 28th. This represents a $0.40 annualized dividend and a yield of 1.18%. Ameris Bancorp’s dividend payout ratio (DPR) is 16.13%.

About Ameris Bancorp

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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