Ameris Bancorp's (ABCB) Outperform Rating Reaffirmed at Raymond James

Raymond James reaffirmed their outperform rating on shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $71.00 price target on the bank's stock, up from their previous price target of $67.00.

A number of other research firms have also weighed in on ABCB. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Truist Financial lowered their target price on Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Stephens reissued an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, StockNews.com upgraded Ameris Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.50.

Ameris Bancorp Stock Up 1.0 %

Ameris Bancorp stock traded up $0.66 during midday trading on Monday, hitting $68.49. 405,205 shares of the company were exchanged, compared to its average volume of 418,200. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a fifty-two week low of $44.22 and a fifty-two week high of $74.56. The company's fifty day moving average price is $64.77 and its 200-day moving average price is $63.26. The company has a market cap of $4.73 billion, a PE ratio of 13.15 and a beta of 1.06.

Ameris Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Tuesday, December 31st. This is an increase from Ameris Bancorp's previous quarterly dividend of $0.15. Ameris Bancorp's dividend payout ratio (DPR) is currently 15.36%.

Institutional Investors Weigh In On Ameris Bancorp

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Ameris Bancorp by 85.9% during the second quarter. AQR Capital Management LLC now owns 34,473 shares of the bank's stock worth $1,736,000 after acquiring an additional 15,928 shares during the period. Mackenzie Financial Corp bought a new position in shares of Ameris Bancorp during the second quarter valued at approximately $207,000. Handelsbanken Fonder AB raised its position in shares of Ameris Bancorp by 26.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 15,530 shares of the bank's stock worth $969,000 after purchasing an additional 3,200 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Ameris Bancorp by 38.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank's stock worth $71,000 after purchasing an additional 311 shares during the last quarter. Finally, CWM LLC boosted its position in Ameris Bancorp by 105.8% during the 3rd quarter. CWM LLC now owns 2,696 shares of the bank's stock valued at $168,000 after purchasing an additional 1,386 shares during the period. 91.64% of the stock is currently owned by institutional investors.

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.