Douglas Strange Sells 205 Shares of Ameris Bancorp (NASDAQ:ABCB) Stock

Ameris Bancorp (NASDAQ:ABCB) insider Douglas Strange sold 205 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $71.62, for a total transaction of $14,682.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ameris Bancorp Stock Down 0.4%

Shares of NASDAQ ABCB opened at $79.38 on Wednesday. The stock has a market cap of $5.42 billion, a PE ratio of 15.24 and a beta of 0.99. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $87.98. The company has a 50-day moving average of $79.94 and a 200 day moving average of $75.86.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The business had revenue of $309.92 million for the quarter, compared to analysts’ expectations of $310.48 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the previous year, the firm posted $1.38 EPS. As a group, sell-side analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s payout ratio is 13.33%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler set a $84.00 price target on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Truist Financial increased their price target on shares of Ameris Bancorp from $83.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Stephens lifted their price target on shares of Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $80.00 price objective (up from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Key Ameris Bancorp News

Here are the key news stories impacting Ameris Bancorp this week:

• Positive Sentiment: Analyst reception remains constructive — the stock has an average analyst rating of “Moderate Buy” and several recent price-target increases, supporting a positive medium-term view for ABCB. Ameris Bancorp Receives Average Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Ameris Bank announced executive leadership changes. Management reshuffles can cause short-term uncertainty while markets digest succession and role changes, but the release did not signal financial stress. Ameris Bank Announces Executive Leadership Changes
• Neutral Sentiment: Corporate Executive VP / Chief Strategy Officer retirement announced — a planned retirement can be neutral if succession is clear, but it may raise short-term questions about strategic continuity. Ameris Bancorp Announces Retirement of Chief Strategy Officer
• Neutral Sentiment: Insider transactions disclosed today include token single-share sales by Ross L. Creasy, CFO Nicole S. Stokes and Douglas D. Strange (each sold 1 share). These de minimis trades are routine and unlikely to signal a change in insider conviction. SEC filings: Ross Creasy Form 4 Nicole Stokes Form 4 Douglas Strange Form 4 (1 share)
• Neutral Sentiment: A prior insider sale disclosure (Douglas Strange sold 205 shares on Dec. 31) was also noted; the size is small relative to institutional holdings and the insider’s total stake. Douglas Strange Sells 205 Shares of Ameris Bancorp

Institutional Trading of Ameris Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABCB. State Street Corp boosted its position in shares of Ameris Bancorp by 0.4% during the fourth quarter. State Street Corp now owns 3,199,365 shares of the bank’s stock worth $238,250,000 after buying an additional 12,475 shares during the period. North Reef Capital Management LP raised its holdings in shares of Ameris Bancorp by 38.2% in the 4th quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock valued at $203,279,000 after buying an additional 755,967 shares during the period. American Century Companies Inc. lifted its stake in Ameris Bancorp by 10.8% during the 2nd quarter. American Century Companies Inc. now owns 2,077,359 shares of the bank’s stock worth $134,405,000 after acquiring an additional 202,165 shares in the last quarter. Jennison Associates LLC boosted its holdings in Ameris Bancorp by 31.3% during the 4th quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after acquiring an additional 414,920 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Ameris Bancorp by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,573,486 shares of the bank’s stock valued at $101,815,000 after acquiring an additional 11,909 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.