Ameris Bancorp (ABCB) EVP Jon S. Edwards Sells 13,033 Shares

Ameris Bancorp (NASDAQ:ABCB) EVP Jon S. Edwards sold 13,033 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $47.23, for a total value of $615,548.59. Following the completion of the sale, the executive vice president now directly owns 50,757 shares in the company, valued at approximately $2,397,253.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ameris Bancorp (NASDAQ:ABCB) remained flat at $43.95 during trading on Friday. The stock had a trading volume of 303,326 shares. The company’s 50-day moving average price is $45.67 and its 200 day moving average price is $44.89. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 19.18 and a beta of 1.39. Ameris Bancorp has a 52-week low of $27.92 and a 52-week high of $49.50.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, April 21st. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $86.30 million during the quarter, compared to analysts’ expectations of $86.84 million. Ameris Bancorp had a return on equity of 12.84% and a net margin of 20.91%. Equities research analysts anticipate that Ameris Bancorp will post $2.60 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/05/20/insider-selling-ameris-bancorp-abcb-evp-sells-615548-59-in-stock-updated.html.

Several research firms have weighed in on ABCB. SunTrust Banks, Inc. raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, April 26th. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 price objective on shares of Ameris Bancorp in a research note on Friday, April 21st. Finally, Stephens reaffirmed a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Friday, April 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.20.

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Ameris Bancorp by 14.9% in the fourth quarter. State Street Corp now owns 977,570 shares of the bank’s stock worth $42,621,000 after buying an additional 126,537 shares during the period. Comerica Bank boosted its position in shares of Ameris Bancorp by 12.1% in the fourth quarter. Comerica Bank now owns 71,998 shares of the bank’s stock valued at $3,114,000 after buying an additional 7,751 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Ameris Bancorp during the fourth quarter valued at $30,457,000. 1832 Asset Management L.P. bought a new position in shares of Ameris Bancorp during the third quarter valued at $982,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Ameris Bancorp during the third quarter valued at $38,713,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

12 Month Chart for NASDAQ:ABCB

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply