Brokerages Set Ameris Bancorp (NASDAQ:ABCB) Price Target at $73.33

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.43.

A number of equities analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They set an “overweight” rating and a $74.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Finally, Piper Sandler Companies lifted their price objective on Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 7th.

Ameris Bancorp Stock Up 0.5 %

NASDAQ:ABCB opened at $51.38 on Friday. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56. 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 company has a market cap of $3.55 billion, a PE ratio of 9.86 and a beta of 0.87. The firm’s 50 day simple moving average is $59.84 and its 200 day simple moving average is $63.16.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. Ameris Bancorp’s payout ratio is currently 15.36%.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ameris Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Ameris Bancorp by 24.7% in the third quarter. FMR LLC now owns 94,887 shares of the bank’s stock valued at $5,920,000 after acquiring an additional 18,822 shares during the period. BNP Paribas Financial Markets grew its position in Ameris Bancorp by 29.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,781 shares of the bank’s stock valued at $1,421,000 after purchasing an additional 5,225 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ameris Bancorp by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,381 shares of the bank’s stock valued at $9,257,000 after purchasing an additional 3,280 shares in the last quarter. Captrust Financial Advisors acquired a new position in Ameris Bancorp during the third quarter worth $237,000. Finally, Verition Fund Management LLC lifted its stake in shares of Ameris Bancorp by 53.4% in the third quarter. Verition Fund Management LLC now owns 8,880 shares of the bank’s stock valued at $554,000 after buying an additional 3,092 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

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.