KBW analyst Catherine Mealor maintained a Buy rating on Ameris Bancorp (ABCB – Research Report) yesterday and set a price target of $60.00. The company’s shares closed yesterday at $47.51.
Mealor covers the Financial sector, focusing on stocks such as Atlantic Union Bankshares, Southern States Bancshares, and Cadence Bank. According to TipRanks, Mealor has an average return of 11.9% and a 61.35% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ameris Bancorp with a $57.00 average price target.
Based on Ameris Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $270.93 million and a net profit of $80.12 million. In comparison, last year the company earned a revenue of $278.31 million and had a net profit of $92.56 million
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Ameris Bancorp (ABCB) Company Description:
Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts. The Retail Mortgage segment includes origination, sales, and servicing of one-to-four family residential mortgage loans. The Warehouse Lending segment includes the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans. The SBA segment comprises of origination, sales, and servicing of small business administration loans. The Premium Finance segment comprises origination and servicing of commercial insurance premium finance loans. The company was founded on December 18, 1980 and is headquartered in Moultrie, GA.
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