In a report released yesterday, Tyler Stafford from Stephens maintained a Buy rating on Ameris Bancorp (ABCB), with a price target of $50. The company’s shares closed last Monday at $39.15.
Stafford said:
“We continue to believe ABCB’s NIM will be relatively more protected in the current rate environment given the indirect auto remix and believe the Op. leverage achieved through 2020 will be a standout. We maintain our OW rating given the 9x multiple relative to its impressive growth and profitability profile.Stephens Inc. Page 2 APPENDIX A ANALYST CERTIFICATION The analyst primarily responsible for the preparation of the content of this report certifies that (i) all views expressed in this report accurately reflect the analyst’s personal views about the subject company and securities, and (ii) no part of the analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in this report.”
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 4.7% and a 56.1% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
Currently, the analyst consensus on Ameris Bancorp is a Moderate Buy with an average price target of $46.
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Ameris Bancorp’s market cap is currently $1.86B and has a P/E ratio of 11.38. The company has a Price to Book ratio of 1.20.
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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.
