Brokerages Set Ameris Bancorp (NASDAQ:ABCB) PT at $70.50

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $70.50.

ABCB has been the topic of several research analyst reports. Raymond James reiterated an "outperform" rating and issued a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Stephens restated an "equal weight" rating and issued a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st.

Ameris Bancorp Price Performance

ABCB stock traded up $1.93 during mid-day trading on Tuesday, reaching $57.49. 438,836 shares of the company's stock were exchanged, compared to its average volume of 414,568. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 11.03 and a beta of 1.02. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56. The stock's 50 day moving average is $63.54 and its 200 day moving average is $64.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

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Ameris Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Ameris Bancorp's previous quarterly dividend of $0.15. Ameris Bancorp's dividend payout ratio (DPR) is currently 15.36%.

Insider Transactions at Ameris Bancorp

In other news, insider Douglas D. Strange purchased 1,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management lifted its stake in shares of Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after purchasing an additional 463 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Ameris Bancorp in the fourth quarter valued at about $37,000. R Squared Ltd purchased a new position in Ameris Bancorp during the fourth quarter worth about $51,000. Blue Trust Inc. increased its position in shares of Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after acquiring an additional 400 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Ameris Bancorp by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after acquiring an additional 202 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.