Ameris Bancorp (NASDAQ:ABCB) Now Covered by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Ameris Bancorp (NASDAQ:ABCB) in a research report sent to investors on Friday morning. The brokerage issued an overweight rating and a $74.00 price objective on the bank’s stock.

Several other research analysts also recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens reaffirmed an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.33.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $50.64 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02. The firm’s 50 day moving average price is $61.70 and its 200-day moving average price is $63.70. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Reef Capital Management LP lifted its holdings in shares of Ameris Bancorp by 8.9% in the fourth quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank’s stock worth $158,490,000 after buying an additional 208,000 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after purchasing an additional 55,473 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ameris Bancorp by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after purchasing an additional 223,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ameris Bancorp by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank’s stock worth $57,401,000 after purchasing an additional 10,256 shares during the last quarter. Finally, Congress Asset Management Co. lifted its position in shares of Ameris Bancorp by 1.5% in the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank’s stock worth $51,405,000 after buying an additional 12,216 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

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.