Ameris Bancorp (NASDAQ:ABCB) Given Consensus Rating of "Moderate Buy" by Analysts

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $73.43.

ABCB has been the subject of a number of analyst reports. Piper Sandler initiated coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target for the company. Raymond James reaffirmed an "outperform" rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Piper Sandler Companies lifted their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Stephens restated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st.

Insiders Place Their Bets

In related news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company's stock.

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Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors have recently made changes to their positions in ABCB. Principal Financial Group Inc. lifted its position in Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock worth $78,829,000 after buying an additional 55,473 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ameris Bancorp by 30.7% in the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock worth $59,570,000 after buying an additional 223,805 shares during the period. Stifel Financial Corp lifted its stake in shares of Ameris Bancorp by 13.9% in the 3rd 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 during the last quarter. William Blair Investment Management LLC boosted its holdings in Ameris Bancorp by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock valued at $49,385,000 after acquiring an additional 19,150 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Ameris Bancorp by 135.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock worth $7,187,000 after acquiring an additional 66,287 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Down 6.7 %

Shares of ABCB traded down $3.68 on Friday, reaching $51.22. The company's stock had a trading volume of 56,386 shares, compared to its average volume of 378,269. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $60.41 and a 200-day moving average of $63.31. The stock has a market capitalization of $3.54 billion, a PE ratio of 9.84 and a beta of 0.87. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.56%. Ameris Bancorp's dividend payout ratio is currently 15.36%.

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.