Dennis J. Zember, Jr. Sells 5,000 Shares of Ameris Bancorp (ABCB) Stock

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.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, December 28th. Ameris Bancorp’s payout ratio is presently 20.10%.

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.

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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.

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

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