Ameris Bancorp (NASDAQ:ABCB - Get Free Report) insider Douglas D. Strange acquired 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price 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 $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ameris Bancorp Stock Down 1.6 %
ABCB stock opened at $55.57 on Friday. Ameris Bancorp has a twelve month low of $44.22 and a twelve month high of $74.56. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.84 billion, a PE ratio of 10.67 and a beta of 1.02. The business's 50-day simple moving average is $63.65 and its 200 day simple moving average is $64.14.
Ameris Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Ameris Bancorp's previous quarterly dividend of $0.15. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Stephens reissued an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.50.
View Our Latest Stock Report on Ameris Bancorp
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in Ameris Bancorp during the fourth quarter worth $37,000. GTS Securities LLC acquired a new stake in shares of Ameris Bancorp during the 4th quarter valued at about $287,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ameris Bancorp by 16.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 173,391 shares of the bank's stock valued at $10,849,000 after acquiring an additional 25,010 shares during the period. Twinbeech Capital LP bought a new stake in Ameris Bancorp in the fourth quarter valued at about $2,300,000. Finally, Rafferty Asset Management LLC raised its position in Ameris Bancorp by 11.6% in the fourth quarter. Rafferty Asset Management LLC now owns 77,821 shares of the bank's stock worth $4,869,000 after purchasing an additional 8,086 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Ameris Bancorp Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
