Ameris Bancorp (NASDAQ:ABCB) Insider Acquires $56,950.00 in Stock

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) insider Douglas D. Strange acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ameris Bancorp Stock Up 0.4 %

ABCB stock traded up $0.26 during trading on Monday, reaching $57.59. 90,520 shares of the company traded hands, compared to its average volume of 407,990. The business has a 50 day simple moving average of $63.46 and a 200 day simple moving average of $64.10. 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 12 month low of $44.22 and a 12 month high of $74.56. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 11.05 and a beta of 1.02.

Ameris Bancorp Increases Dividend

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

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Analysts Set New Price Targets

A number of brokerages recently commented on ABCB. Keefe, Bruyette & Woods raised their price target on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Raymond James restated an "outperform" rating and set a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Institutional Trading of Ameris Bancorp

A number of institutional investors have recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Ameris Bancorp during the fourth quarter worth approximately $37,000. GTS Securities LLC acquired a new position in Ameris Bancorp during the 4th quarter worth $287,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ameris Bancorp by 16.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,391 shares of the bank's stock worth $10,849,000 after purchasing an additional 25,010 shares in the last quarter. Twinbeech Capital LP acquired a new position in Ameris Bancorp during the 4th quarter worth $2,300,000. Finally, Rafferty Asset Management LLC boosted its position in shares of Ameris Bancorp by 11.6% during the 4th quarter. Rafferty Asset Management LLC now owns 77,821 shares of the bank's stock worth $4,869,000 after acquiring an additional 8,086 shares in the last quarter. 91.64% of the stock is 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.