Ameris Bancorp (ABCB) EVP Sells $615,548.59 in Stock
Ameris Bancorp (NASDAQ:ABCB) EVP Jon S. Edwards sold 13,033 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $47.23, for a total transaction of $615,548.59. Following the completion of the transaction, the executive vice president now owns 50,757 shares in the company, valued at $2,397,253.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.23% during trading on Friday, hitting $44.05. 44,006 shares of the stock were exchanged. The stock has a market cap of $1.57 billion, a PE ratio of 19.23 and a beta of 1.39. Ameris Bancorp has a 52-week low of $27.92 and a 52-week high of $49.50. The firm has a 50 day moving average of $45.74 and a 200-day moving average of $44.83.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, April 21st. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Ameris Bancorp had a return on equity of 12.84% and a net margin of 20.91%. The firm had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.84 million. Equities research analysts anticipate that Ameris Bancorp will post $2.60 earnings per share for the current fiscal year.
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A number of brokerages recently commented on ABCB. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Friday, April 21st. SunTrust Banks, Inc. upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, April 26th. Finally, Stephens restated a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research note on Friday, April 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.20.
Several hedge funds and other institutional investors have recently made changes to their positions in ABCB. BlackRock Institutional Trust Company N.A. raised its position in shares of Ameris Bancorp by 10.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 915,724 shares of the bank’s stock worth $32,005,000 after buying an additional 85,332 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Ameris Bancorp during the third quarter worth $982,000. Fisher Asset Management LLC raised its position in shares of Ameris Bancorp by 71.9% in the first quarter. Fisher Asset Management LLC now owns 82,669 shares of the bank’s stock worth $3,811,000 after buying an additional 34,578 shares during the last quarter. TNB Financial purchased a new position in shares of Ameris Bancorp during the first quarter worth $422,000. Finally, State Street Corp raised its position in shares of 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 last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
About Ameris Bancorp
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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