Ameris Bancorp initiated with a Hold at Truist

Truist initiated coverage of Ameris Bancorp (ABCB) with a Hold rating and $80 price target Ameris Bancorp’s track record of compounding TBV/share through a combination of organic growth and disciplined balance sheet management is “impressive,” the analyst tells investors in a research note. The firm sees the potential for some near-term net interest margin pressure, but likes the long-term story and flexibility Ameris has to play offense and defense on ROTCE, growth, and buybacks with its sizable excess capital base.