Ameris Bancorp (NASDAQ:ABCB) COO Dennis J. Zember, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total value of $274,050.00. Following the sale, the chief operating officer now owns 156,063 shares in the company, valued at approximately $8,553,813.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Ameris Bancorp (ABCB) traded down $0.25 during mid-day trading on Friday, hitting $54.25. The company had a trading volume of 81,847 shares, compared to its average volume of 223,007. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. The firm has a market cap of $1,993.72 and a price-to-earnings ratio of 27.59. Ameris Bancorp has a 1-year low of $41.05 and a 1-year high of $56.85.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $96.28 million. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. research analysts predict that Ameris Bancorp will post 3.47 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its holdings in shares of Ameris Bancorp by 43.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 57,737 shares of the bank’s stock worth $2,783,000 after acquiring an additional 17,393 shares during the last quarter. Voya Investment Management LLC grew its holdings in Ameris Bancorp by 4.6% in the 2nd quarter. Voya Investment Management LLC now owns 26,905 shares of the bank’s stock valued at $1,297,000 after buying an additional 1,188 shares in the last quarter. Legato Capital Management LLC acquired a new position in Ameris Bancorp in the 3rd quarter valued at $877,000. Piedmont Investment Advisors LLC acquired a new position in Ameris Bancorp in the 2nd quarter valued at $387,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in Ameris Bancorp in the 3rd quarter valued at $586,000. 81.78% of the stock is currently owned by institutional investors and hedge funds.
ABCB has been the topic of a number of analyst reports. ValuEngine cut Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Piper Jaffray Companies set a $48.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research cut Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ameris Bancorp presently has a consensus rating of “Buy” and an average price target of $55.33.
COPYRIGHT VIOLATION WARNING: “Dennis J. Zember, Jr. Sells 5,000 Shares of Ameris Bancorp (ABCB) Stock” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/02/dennis-j-zember-jr-sells-5000-shares-of-ameris-bancorp-abcb-stock.html.
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.
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.