Ameris Bancorp (NASDAQ:ABCB) Stock Price Expected to Rise, Piper Sandler Companies Analyst Says

Ameris Bancorp (NASDAQ:ABCB) had its price target boosted by analysts at Piper Sandler Companies to $74.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has a “buy” rating on the bank’s stock. Piper Sandler Companies’ price objective points to a potential upside of 46.41% from the company’s previous close.

Other analysts also recently issued reports about the company. Piper Sandler began coverage on Ameris Bancorp in a research note 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 set a $71.00 target price (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 target on shares of Ameris Bancorp in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.43.

Ameris Bancorp Trading Down 0.7 %

Shares of ABCB stock opened at $50.54 on Monday. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56. The company has a market capitalization of $3.49 billion, a PE ratio of 9.70 and a beta of 0.87. The firm has a 50 day moving average price of $60.84 and a two-hundred day moving average price of $63.43. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 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, with a total value of $56,950.00. Following the acquisition, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Ameris Bancorp by 4,935.2% during the 1st quarter. GAMMA Investing LLC now owns 67,069 shares of the bank’s stock valued at $3,861,000 after acquiring an additional 65,737 shares in the last quarter. Versant Capital Management Inc raised its position in Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock valued at $42,000 after purchasing an additional 334 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter valued at about $37,000. GTS Securities LLC bought a new stake in shares of Ameris Bancorp during the fourth quarter worth about $287,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ameris Bancorp by 16.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,391 shares of the bank’s stock valued at $10,849,000 after buying an additional 25,010 shares during the period. Institutional investors own 91.64% of the company’s stock.

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.