Ameris Bancorp (NASDAQ:ABCB) Price Target Raised to $74.00

Ameris Bancorp (NASDAQ:ABCB) had its target price raised by Piper Sandler Companies to $74.00 in a report published on Monday morning,Stock Target Advisor reports. Piper Sandler Companies currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also weighed in on ABCB. 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. Piper Sandler began coverage on Ameris Bancorp in a report on Friday, April 4th. They issued an “overweight” rating and a $74.00 price target on the stock. Finally, Raymond James reaffirmed an “outperform” rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and an average target price of $73.43.

Ameris Bancorp Trading Up 8.3 %

Shares of ABCB opened at $54.90 on Monday. The firm’s 50-day moving average is $60.41 and its two-hundred day moving average is $63.31. The firm has a market capitalization of $3.79 billion, a P/E ratio of 10.54 and a beta of 0.87. Ameris Bancorp has a twelve month low of $44.23 and a twelve 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.

Ameris Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in Ameris Bancorp by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock valued at $243,000 after acquiring an additional 167 shares in the last quarter. Captrust Financial Advisors raised its stake in Ameris Bancorp by 4.6% in the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank’s stock valued at $249,000 after buying an additional 175 shares during the period. GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after buying an additional 202 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Ameris Bancorp by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank’s stock worth $431,000 after acquiring an additional 218 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of Ameris Bancorp by 1.7% during the 4th quarter. Synovus Financial Corp now owns 14,020 shares of the bank’s stock worth $877,000 after acquiring an additional 235 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.