Piper Sandler Companies Forecasts Strong Price Appreciation for Ameris Bancorp (NASDAQ:ABCB) Stock

Ameris Bancorp (NASDAQ:ABCB) had its price target increased by Piper Sandler Companies to $74.00 in a note issued to investors on Monday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the bank’s stock. Piper Sandler Companies’ price target would indicate a potential upside of 44.26% from the company’s previous close.

A number of other research firms have also issued reports on ABCB. Piper Sandler began coverage on shares of Ameris Bancorp in a research note on Friday. They issued an “overweight” rating and a $74.00 target price on the stock. Stephens restated an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Raymond James reissued 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.43.

Ameris Bancorp Stock Performance

Ameris Bancorp stock traded up $0.49 during trading hours on Monday, reaching $51.30. 49,969 shares of the company were exchanged, compared to its average volume of 374,639. Ameris Bancorp has a 12 month low of $44.23 and a 12 month 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 50-day moving average of $61.70 and a 200 day moving average of $63.72. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 9.64 and a beta of 0.87.

Insider Buying and Selling

In other news, insider Douglas D. Strange bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the purchase, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Ameris Bancorp by 24.7% during the 3rd quarter. FMR LLC now owns 94,887 shares of the bank’s stock valued at $5,920,000 after acquiring an additional 18,822 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Ameris Bancorp by 29.8% during the third quarter. BNP Paribas Financial Markets now owns 22,781 shares of the bank’s stock worth $1,421,000 after purchasing an additional 5,225 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ameris Bancorp by 2.3% during 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 purchasing an additional 3,280 shares during the period. Captrust Financial Advisors acquired a new stake in Ameris Bancorp during the third quarter valued at approximately $237,000. Finally, Verition Fund Management LLC grew its stake in shares of Ameris Bancorp by 53.4% in the 3rd quarter. Verition Fund Management LLC now owns 8,880 shares of the bank’s stock valued at $554,000 after purchasing an additional 3,092 shares during the period. Institutional investors own 91.64% of the company’s stock.

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.