Ameris Bancorp (NASDAQ:ABCB) Now Covered by Piper Sandler

Investment analysts at Piper Sandler began coverage on shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $74.00 price target on the bank's stock. Piper Sandler's price target would suggest a potential upside of 35.98% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Raymond James restated an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reaffirmed an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ameris Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $73.43.

Ameris Bancorp Stock Up 7.4 %

NASDAQ ABCB traded up $3.73 during trading hours on Friday, reaching $54.42. 196,148 shares of the company's stock traded hands, compared to its average volume of 377,073. Ameris Bancorp has a 52-week low of $44.23 and a 52-week 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 firm has a 50-day simple moving average of $60.84 and a 200 day simple moving average of $63.43. The firm has a market cap of $3.76 billion, a PE ratio of 10.44 and a beta of 0.87.

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Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, 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 document filed with the SEC, which is available through this link. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Ameris Bancorp

Several large investors have recently added to or reduced their stakes in the stock. North Reef Capital Management LP increased its position in shares of Ameris Bancorp by 8.9% during the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock valued at $158,490,000 after purchasing an additional 208,000 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after acquiring an additional 55,473 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ameris Bancorp by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock worth $59,570,000 after acquiring an additional 223,805 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ameris Bancorp by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock worth $57,401,000 after purchasing an additional 10,256 shares during the period. Finally, Congress Asset Management Co. grew its holdings in Ameris Bancorp by 1.5% during the 4th quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock valued at $51,405,000 after purchasing an additional 12,216 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

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.