Ameris Bancorp (NASDAQ:ABCB) Earns Outperform Rating from Raymond James

Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $71.00 price objective on the bank’s stock, up from their prior price objective of $67.00. Raymond James’ target price points to a potential upside of 13.17% from the stock’s previous close.

Several other equities analysts have also weighed in on ABCB. Truist Financial reduced their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Stephens reissued an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp Stock Down 4.3 %

ABCB stock opened at $62.74 on Monday. The stock has a market cap of $4.33 billion, a P/E ratio of 12.37 and a beta of 1.06. 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’s fifty day simple moving average is $65.13 and its two-hundred day simple moving average is $63.10. Ameris Bancorp has a 1-year low of $44.22 and a 1-year high of $74.56.

Insider Transactions at Ameris Bancorp

In related news, Director Robert Dale Ezzell sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the transaction, the director now owns 27,444 shares of the company’s stock, valued at approximately $1,918,610.04. The trade was a 22.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ameris Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of ABCB. Victory Capital Management Inc. increased its holdings in shares of Ameris Bancorp by 1.4% in the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after purchasing an additional 12,054 shares during the period. Principal Financial Group Inc. grew its position in Ameris Bancorp by 4.6% during the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after buying an additional 55,473 shares in the last quarter. Stifel Financial Corp increased its stake in Ameris Bancorp by 13.9% in the 3rd quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock worth $1,317,000 after acquiring an additional 2,575 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after acquiring an additional 66,287 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Ameris Bancorp in the 3rd quarter valued at about $233,000. 91.64% of the stock is currently owned by hedge funds and other 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.