Ameris Bancorp (NASDAQ:ABCB) President Lawton E. Bassett III sold 823 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.15, for a total value of $43,742.45. Following the sale, the president now owns 19,408 shares in the company, valued at $1,031,535.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Ameris Bancorp (ABCB) traded up $1.10 during trading hours on Thursday, hitting $53.70. The stock had a trading volume of 279,800 shares, compared to its average volume of 213,650. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $56.85. The stock has a market capitalization of $1,958.35, a P/E ratio of 26.98 and a beta of 1.24.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $96.28 million. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. sell-side analysts forecast that Ameris Bancorp will post 3.49 EPS for the current year.
ABCB has been the topic of a number of research analyst reports. ValuEngine downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. SunTrust Banks upped their price objective on Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Zacks Investment Research downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the company a “hold” rating in a research report on Monday, October 23rd. Finally, BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $55.33.
Large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in shares of Ameris Bancorp by 43.1% in the second quarter. Parametric Portfolio Associates LLC now owns 57,737 shares of the bank’s stock valued at $2,783,000 after acquiring an additional 17,393 shares in the last quarter. Voya Investment Management LLC increased its stake in Ameris Bancorp by 4.6% in the second quarter. Voya Investment Management LLC now owns 26,905 shares of the bank’s stock valued at $1,297,000 after purchasing an additional 1,188 shares during the last quarter. Legato Capital Management LLC acquired a new position in Ameris Bancorp in the third quarter valued at $877,000. Piedmont Investment Advisors LLC acquired a new position in Ameris Bancorp in the second quarter valued at $387,000. Finally, Family Legacy Inc. acquired a new position in Ameris Bancorp in the fourth quarter valued at $590,000. Institutional investors and hedge funds own 83.28% of the company’s stock.
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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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