Keefe, Bruyette & Woods Boosts Ameris Bancorp (NASDAQ:ABCB) Price Target to $65.00

Ameris Bancorp (NASDAQ:ABCB) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $60.00 to $65.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 5.73% from the company’s previous close.

A number of other research firms also recently issued reports on ABCB. DA Davidson boosted their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. Stephens boosted their price target on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Truist Financial reduced their price target on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Piper Sandler upped their target price on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.20.

Ameris Bancorp Trading Down 0.4 %

ABCB stock traded down $0.23 during trading on Monday, reaching $61.48. 31,575 shares of the stock were exchanged, compared to its average volume of 363,688. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $50.98 and a 200-day moving average price of $49.05. Ameris Bancorp has a 1 year low of $34.26 and a 1 year high of $64.88. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 15.00 and a beta of 1.04.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $436.03 million for the quarter, compared to the consensus estimate 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 earned $0.91 earnings per share. On average, research analysts predict that Ameris Bancorp will post 4.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $31,000. 1620 Investment Advisors Inc. acquired a new position in Ameris Bancorp during the 2nd quarter worth approximately $33,000. CWM LLC boosted its holdings in shares of Ameris Bancorp by 33.5% in 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. Journey Strategic Wealth LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at $203,000. Finally, Trexquant Investment LP acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.