Ameris Bancorp (NASDAQ:ABCB – Get Free Report) insider Douglas D. Strange acquired 1,000 shares of Ameris Bancorp stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, the insider now directly owns 19,403 shares of the company’s stock, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ameris Bancorp Trading Down 1.6 %
Shares of NASDAQ:ABCB opened at $55.57 on Friday. The firm has a fifty day moving average of $63.65 and a two-hundred day moving average of $64.14. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56. The firm has a market capitalization of $3.84 billion, a P/E ratio of 10.67 and a beta of 1.02.
Ameris Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is 15.36%.
Institutional Investors Weigh In On Ameris Bancorp
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Raymond James restated an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens reiterated an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five 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 price target of $70.50.
View Our Latest Stock Report on ABCB
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.
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