Ameris Bancorp (NASDAQ:ABCB) Given Equal Weight Rating at Stephens

Stephens reiterated their equal weight rating on shares of Ameris Bancorp (NASDAQ:ABCB) in a research report report published on Friday morning,Benzinga reports. Stephens currently has a $71.00 price target on the bank’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Truist Financial decreased their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, October 28th. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.83.

Ameris Bancorp Stock Performance

ABCB opened at $65.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market cap of $4.53 billion, a PE ratio of 13.65 and a beta of 1.06. The stock has a 50-day moving average of $65.13 and a 200-day moving average of $63.04. Ameris Bancorp has a 52-week low of $44.22 and a 52-week high of $74.56.

Ameris Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.22%. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s payout ratio is currently 15.36%.

Insiders Place Their Bets

In other news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ameris Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new stake in Ameris Bancorp in the 4th quarter valued at $105,000. Sanctuary Advisors LLC boosted its stake in shares of Ameris Bancorp by 13.6% in the 4th quarter. Sanctuary Advisors LLC now owns 3,819 shares of the bank’s stock valued at $250,000 after purchasing an additional 457 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Ameris Bancorp by 1.5% during the 4th quarter. Congress Asset Management Co. now owns 821,554 shares of the bank’s stock worth $51,405,000 after purchasing an additional 12,216 shares in the last quarter. Vicus Capital bought a new position in Ameris Bancorp during the 4th quarter valued at about $202,000. Finally, Savant Capital LLC boosted its position in Ameris Bancorp by 3.8% in the fourth quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock valued at $461,000 after buying an additional 267 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

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.