Analysts Set Ameris Bancorp (NASDAQ:ABCB) PT at $70.50

Ameris Bancorp (NASDAQ:ABCB) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $70.50.

Several equities research analysts have recently issued reports on ABCB shares. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Raymond James restated an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its stake in shares of Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after purchasing an additional 463 shares during the period. Park Square Financial Group LLC acquired a new position in Ameris Bancorp in the 4th quarter worth $37,000. R Squared Ltd purchased a new position in Ameris Bancorp in the 4th quarter valued at about $51,000. Blue Trust Inc. grew its stake in shares of Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Ameris Bancorp by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $57.87 on Tuesday. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56. The company’s 50 day simple moving average is $63.37 and its 200 day simple moving average is $64.08.

Ameris Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, December 31st. Ameris Bancorp’s payout ratio is currently 15.36%.

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.