Ameris Bancorp (NASDAQ:ABCB) Insider Douglas D. Strange Acquires 1,000 Shares

Ameris Bancorp (NASDAQ:ABCB) 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management grew its stake in shares of Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after buying an additional 463 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Ameris Bancorp in the fourth quarter worth approximately $37,000. R Squared Ltd bought a new stake in Ameris Bancorp in the fourth quarter worth approximately $51,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after purchasing an additional 202 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

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.

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.