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

Piper Sandler started coverage on shares of Ameris Bancorp (NASDAQ:ABCB) in a research report released on Friday. The firm issued an overweight rating and a $74.00 price objective on the bank’s stock.

Other equities research analysts have also issued reports about the company. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.33.

Ameris Bancorp Stock Down 2.7 %

Shares of NASDAQ ABCB opened at $50.64 on Friday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 9.72 and a beta of 1.02. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56. 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’s 50-day moving average price is $61.70 and its 200-day moving average price is $63.70.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

Insider Activity

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 stock was bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares of the company’s stock, valued at $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 at this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management grew its stake in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Ameris Bancorp during the 4th quarter worth $37,000. Versant Capital Management Inc increased its stake in shares of Ameris Bancorp by 84.1% during the first quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock valued at $42,000 after buying an additional 334 shares during the period. R Squared Ltd bought a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $51,000. Finally, Blue Trust Inc. lifted its stake in Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares during the period. 91.64% of the stock is owned by hedge funds and other 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.