Brokerages Set Ameris Bancorp (NASDAQ:ABCB) Price Target at $73.33

Ameris Bancorp (NASDAQ:ABCBGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $73.43.

ABCB has been the subject of several recent analyst reports. Piper Sandler Companies raised their target price on Ameris Bancorp to $74.00 and gave the company a “buy” rating in a research note on Monday. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and set a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Piper Sandler assumed coverage on Ameris Bancorp in a research note on Friday, April 4th. They set an “overweight” rating and a $74.00 target price for the company.

Check Out Our Latest Stock Report on Ameris Bancorp

Ameris Bancorp Stock Up 8.3 %

Shares of Ameris Bancorp stock opened at $54.90 on Friday. The company has a fifty day moving average price of $60.41 and a 200 day moving average price of $63.31. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 10.54 and a beta of 0.87.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Ameris Bancorp by 24.7% during the third quarter. FMR LLC now owns 94,887 shares of the bank’s stock valued at $5,920,000 after buying an additional 18,822 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Ameris Bancorp by 29.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 22,781 shares of the bank’s stock worth $1,421,000 after purchasing an additional 5,225 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ameris Bancorp by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,381 shares of the bank’s stock worth $9,257,000 after purchasing an additional 3,280 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $237,000. Finally, Verition Fund Management LLC raised its stake in shares of Ameris Bancorp by 53.4% in the third quarter. Verition Fund Management LLC now owns 8,880 shares of the bank’s stock valued at $554,000 after purchasing an additional 3,092 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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