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

Ameris Bancorp (NASDAQ:ABCB) insider Douglas Strange sold 205 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $71.62, for a total transaction of $14,682.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ameris Bancorp Trading Down 4.8%

Ameris Bancorp stock opened at $79.68 on Tuesday. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $87.98. The firm’s 50-day moving average is $79.91 and its 200-day moving average is $75.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $5.44 billion, a P/E ratio of 15.29 and a beta of 0.99.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data 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. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $309.92 million for the quarter, compared to analyst estimates of $310.48 million. During the same quarter in the prior year, the business earned $1.38 earnings per share. On average, equities analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. Ameris Bancorp’s dividend payout ratio (DPR) is 13.33%.

Analyst Upgrades and Downgrades

ABCB has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $80.00 price objective (up previously from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. DA Davidson set a $94.00 price objective on shares of Ameris Bancorp in a research report on Monday, February 2nd. Stephens upped their target price on shares of Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Finally, Piper Sandler set a $84.00 price target on shares of Ameris Bancorp in a research note 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC raised its position in shares of Ameris Bancorp by 2,311.8% during the 2nd quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock worth $27,000 after buying an additional 393 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in Ameris Bancorp during the third quarter worth approximately $33,000. Allworth Financial LP lifted its position in Ameris Bancorp by 1,567.6% in the second quarter. Allworth Financial LP now owns 567 shares of the bank’s stock worth $37,000 after purchasing an additional 533 shares during the period. Finally, Covestor Ltd lifted its position in Ameris Bancorp by 51.5% in the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares during the period. 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.