Ameris Bancorp (ABCB) Director Acquires $42,750.00 in Stock
Ameris Bancorp (NASDAQ:ABCB) Director Leo J. Hill bought 1,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $42.75 per share, with a total value of $42,750.00. Following the transaction, the director now owns 16,629 shares of the company’s stock, valued at $710,889.75. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded down 3.27% during mid-day trading on Thursday, hitting $41.40. The company had a trading volume of 89,798 shares. The firm’s 50-day moving average price is $44.98 and its 200 day moving average price is $45.99. Ameris Bancorp has a one year low of $33.80 and a one year high of $51.28. The company has a market capitalization of $1.54 billion, a P/E ratio of 17.78 and a beta of 1.29.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Ameris Bancorp had a return on equity of 12.02% and a net margin of 25.27%. Analysts predict that Ameris Bancorp will post $2.55 earnings per share for the current fiscal year.
WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/07/ameris-bancorp-abcb-director-acquires-42750-00-in-stock.html.
Several brokerages have recently commented on ABCB. BidaskClub raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Stephens reaffirmed a “buy” rating and issued a $54.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 target price on shares of Ameris Bancorp in a research report on Monday, June 26th. Finally, Zacks Investment Research cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its stake in Ameris Bancorp by 5.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 55,025 shares of the bank’s stock worth $2,652,000 after purchasing an additional 3,025 shares during the period. Cetera Investment Advisers acquired a new position in Ameris Bancorp in the 2nd quarter worth $597,000. Piedmont Investment Advisors LLC acquired a new position in Ameris Bancorp in the 2nd quarter worth $387,000. Ameritas Investment Partners Inc. boosted its stake in Ameris Bancorp by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after purchasing an additional 248 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Ameris Bancorp in the 2nd quarter worth $296,000. 82.41% of the stock is owned by hedge funds and other institutional investors.
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.
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.