Ameris Bancorp (NASDAQ:ABCB) Given Consensus Rating of “Moderate Buy” by Brokerages

Ameris Bancorp (NASDAQ:ABCB) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $73.33.

A number of brokerages have weighed in on ABCB. Raymond James reaffirmed an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Piper Sandler started coverage on Ameris Bancorp in a report on Friday. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, Stephens reiterated an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st.

Insider Buying and Selling

In other news, insider Douglas D. Strange purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Ameris Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in Ameris Bancorp by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after buying an additional 55,473 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Ameris Bancorp by 13.9% during the third quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 2,575 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Ameris Bancorp by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock valued at $49,385,000 after purchasing an additional 19,150 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock worth $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Ameris Bancorp by 158.2% during the 4th quarter. Intech Investment Management LLC now owns 40,279 shares of the bank’s stock worth $2,520,000 after purchasing an additional 24,680 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $50.64 on Friday. The firm’s 50 day simple moving average is $61.70 and its 200-day simple moving average is $63.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56. The firm has a market cap of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

About Ameris Bancorp

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.