Equities researchers at StockNews.com initiated coverage on shares of Ameris Bancorp (NASDAQ:ABCB – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the bank’s stock.
ABCB has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price target on Ameris Bancorp from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Piper Sandler reissued an “overweight” rating and set a $62.00 price target on shares of Ameris Bancorp in a research report on Monday, December 5th. Truist Financial dropped their price objective on Ameris Bancorp from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. Finally, DA Davidson restated a “neutral” rating on shares of Ameris Bancorp in a research note on Friday, March 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $55.50.
Ameris Bancorp Stock Up 0.1 %
ABCB stock opened at $36.79 on Thursday. The business has a 50-day moving average of $47.22 and a 200-day moving average of $48.43. Ameris Bancorp has a fifty-two week low of $34.28 and a fifty-two week high of $54.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.07. The stock has a market capitalization of $2.55 billion, a P/E ratio of 7.37 and a beta of 1.13.
Insider Transactions at Ameris Bancorp
In other news, Director William I. Jr. Bowen bought 670 shares of the stock in a transaction dated Friday, March 10th. The shares were bought at an average price of $41.20 per share, for a total transaction of $27,604.00. Following the completion of the purchase, the director now owns 22,872 shares in the company, valued at $942,326.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Ameris Bancorp
A number of large investors have recently made changes to their positions in ABCB. BlackRock Inc. increased its stake in Ameris Bancorp by 1.6% during the 3rd quarter. BlackRock Inc. now owns 10,150,631 shares of the bank’s stock worth $453,836,000 after acquiring an additional 158,483 shares during the period. Vanguard Group Inc. increased its stake in Ameris Bancorp by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,346,699 shares of the bank’s stock worth $328,470,000 after acquiring an additional 158,489 shares during the period. Wellington Management Group LLP increased its stake in Ameris Bancorp by 7.4% during the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after acquiring an additional 358,777 shares during the period. State Street Corp increased its stake in Ameris Bancorp by 14.3% during the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank’s stock worth $171,622,000 after acquiring an additional 488,485 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Ameris Bancorp by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,845,042 shares of the bank’s stock worth $181,256,000 after acquiring an additional 214,847 shares during the period. Institutional investors own 86.74% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.
- Get a free copy of the StockNews.com research report on Ameris Bancorp (ABCB)
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