Raymond James Reiterates “Outperform” Rating for Ameris Bancorp (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “outperform” rating reiterated by analysts at Raymond James in a research report issued on Monday,Benzinga reports. They presently have a $71.00 price target on the bank’s stock, up from their previous price target of $67.00. Raymond James’ price target would indicate a potential upside of 13.17% from the company’s current price.

Several other analysts have also recently weighed in on the stock. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods raised their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial cut their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Stephens reissued an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.50.

Ameris Bancorp Stock Down 4.3 %

NASDAQ:ABCB opened at $62.74 on Monday. Ameris Bancorp has a one year low of $44.22 and a one year high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market cap of $4.33 billion, a PE ratio of 12.37 and a beta of 1.06. The firm’s 50 day simple moving average is $65.13 and its 200 day simple moving average is $63.10.

Insiders Place Their Bets

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the transaction, the director now owns 27,444 shares in the company, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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 company. Blue Trust Inc. increased its stake in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after purchasing an additional 509 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ameris Bancorp during the fourth quarter valued at about $51,000. GAMMA Investing LLC increased its position in shares of Ameris Bancorp by 38.0% during the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after acquiring an additional 311 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Ameris Bancorp in the 4th quarter worth about $98,000. Finally, Venturi Wealth Management LLC bought a new position in Ameris Bancorp in the 4th quarter valued at about $105,000. 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.