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.
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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.
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