DA Davidson Issues Positive Forecast for Ameris Bancorp (NASDAQ:ABCB) Stock Price
by Renee Jackson · The Cerbat GemAmeris Bancorp (NASDAQ:ABCB – Get Free Report) had its target price raised by DA Davidson from $94.00 to $98.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s target price would suggest a potential upside of 14.21% from the stock’s current price.
ABCB has been the subject of a number of other reports. Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of Ameris Bancorp in a research report on Monday. Truist Financial increased their target price on Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research report on Monday. Stephens increased their target price on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $90.17.
Read Our Latest Research Report on Ameris Bancorp
Ameris Bancorp Price Performance
Shares of NASDAQ ABCB traded up $0.69 during midday trading on Tuesday, reaching $85.81. 79,730 shares of the stock traded hands, compared to its average volume of 562,139. 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 stock has a market capitalization of $5.86 billion, a PE ratio of 16.48 and a beta of 0.93. Ameris Bancorp has a one year low of $56.42 and a one year high of $87.98. The company’s 50 day moving average is $79.70 and its 200 day moving average is $77.79.
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $314.36 million during the quarter, compared to the consensus estimate of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the company earned $1.28 EPS. On average, equities research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.
Institutional Trading of Ameris Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of ABCB. Norges Bank purchased a new stake in Ameris Bancorp during the 4th quarter valued at $62,673,000. North Reef Capital Management LP raised its holdings in Ameris Bancorp by 38.2% during the 4th quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock valued at $203,279,000 after buying an additional 755,967 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Ameris Bancorp during the 1st quarter valued at $42,270,000. Invesco Ltd. raised its holdings in Ameris Bancorp by 134.7% during the 3rd quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock valued at $68,318,000 after buying an additional 534,830 shares during the period. Finally, Jennison Associates LLC raised its holdings in Ameris Bancorp by 31.3% during the 4th quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after buying an additional 414,920 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.
Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.