Piper Sandler Companies Issues Positive Forecast for Ameris Bancorp (NASDAQ:ABCB) Stock Price

Ameris Bancorp (NASDAQ:ABCB) had its price objective upped by equities research analysts at Piper Sandler Companies to $74.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the bank’s stock. Piper Sandler Companies’ price objective points to a potential upside of 44.26% from the stock’s previous close.

ABCB has been the subject of a number of other research reports. Raymond James reiterated an “outperform” rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Piper Sandler assumed coverage on Ameris Bancorp in a report on Friday. They set an “overweight” rating and a $74.00 target price for the company. Finally, Stephens reissued an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.43.

Ameris Bancorp Price Performance

ABCB stock traded up $0.49 on Monday, hitting $51.30. 49,969 shares of the company’s stock traded hands, compared to its average volume of 374,639. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 9.64 and a beta of 0.87. Ameris Bancorp has a 1-year low of $44.23 and a 1-year 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. The stock has a fifty day moving average of $61.70 and a 200-day moving average of $63.72.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now directly owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ameris Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in Ameris Bancorp by 24.7% in the 3rd quarter. FMR LLC now owns 94,887 shares of the bank’s stock worth $5,920,000 after purchasing an additional 18,822 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Ameris Bancorp by 29.8% in the third quarter. BNP Paribas Financial Markets now owns 22,781 shares of the bank’s stock worth $1,421,000 after buying an additional 5,225 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ameris Bancorp by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,381 shares of the bank’s stock worth $9,257,000 after buying an additional 3,280 shares during the last quarter. Captrust Financial Advisors bought a new position in Ameris Bancorp during the third quarter valued at approximately $237,000. Finally, Verition Fund Management LLC lifted its stake in Ameris Bancorp by 53.4% in the third quarter. Verition Fund Management LLC now owns 8,880 shares of the bank’s stock valued at $554,000 after acquiring an additional 3,092 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.