Stephens Reaffirms Equal Weight Rating for Ameris Bancorp (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “equal weight” rating restated by stock analysts at Stephens in a research report issued on Friday,Benzinga reports. They presently have a $71.00 price objective on the bank’s stock. Stephens’ price objective indicates a potential upside of 8.55% from the company’s previous close.

A number of other brokerages have also commented on ABCB. Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. Truist Financial dropped their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Ameris Bancorp Stock Down 0.3 %

Shares of Ameris Bancorp stock traded down $0.17 on Friday, hitting $65.41. The company had a trading volume of 178,756 shares, compared to its average volume of 382,811. The firm has a market capitalization of $4.52 billion, a P/E ratio of 13.63 and a beta of 1.06. Ameris Bancorp has a twelve month low of $44.22 and a twelve month high of $74.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a 50-day moving average of $65.26 and a 200-day moving average of $62.98.

Insiders Place Their Bets

In related news, Director Robert Dale Ezzell sold 8,000 shares of the firm’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 value of $559,280.00. Following the completion of the transaction, the director now owns 27,444 shares in the company, valued at $1,918,610.04. This trade represents a 22.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABCB. Blue Trust Inc. raised its holdings in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after purchasing an additional 509 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $51,000. GAMMA Investing LLC grew its position in shares of Ameris Bancorp by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after buying an additional 311 shares during the period. USA Financial Formulas acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $98,000. Finally, US Bancorp DE grew its position in shares of Ameris Bancorp by 3,396.4% during the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after buying an additional 1,868 shares during the period. 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.