Piper Sandler Begins Coverage on Ameris Bancorp (NASDAQ:ABCB)

Piper Sandler assumed coverage on shares of Ameris Bancorp (NASDAQ:ABCB) in a report released on Friday. The firm set an “overweight” rating and a $74.00 price target on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 46.13% from the company’s current price.

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

Ameris Bancorp Trading Down 2.7 %

Shares of ABCB opened at $50.64 on Friday. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 9.72 and a beta of 1.02. The firm has a 50 day moving average price of $61.70 and a 200-day moving average price of $63.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Insider Buying and Selling at Ameris Bancorp

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 bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in shares of Ameris Bancorp by 84.1% in the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock worth $42,000 after purchasing an additional 334 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Ameris Bancorp in the fourth quarter worth $37,000. GTS Securities LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter worth $287,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ameris Bancorp by 16.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,391 shares of the bank’s stock worth $10,849,000 after purchasing an additional 25,010 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new stake in Ameris Bancorp during the 4th quarter valued at about $2,300,000. Institutional investors own 91.64% of the company’s stock.

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.