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.

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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.

Insider Buying and Selling by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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