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 Ameris Bancorp 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 completion of the transaction, the chief operating officer now directly owns 156,063 shares in the company, valued at $8,553,813.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ameris Bancorp (NASDAQ:ABCB) opened at $54.25 on Friday. Ameris Bancorp has a 12 month low of $41.05 and a 12 month high of $56.85. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2,019.78, a P/E ratio of 21.79 and a beta of 1.24.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The firm had revenue of $89.90 million for the quarter, compared to analyst estimates of $96.28 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. equities research analysts anticipate that Ameris Bancorp will post 3.49 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of ABCB. Oak Ridge Investments LLC lifted its stake in Ameris Bancorp by 228.9% in the third quarter. Oak Ridge Investments LLC now owns 542,628 shares of the bank’s stock valued at $26,046,000 after buying an additional 377,628 shares during the period. Boston Partners acquired a new position in Ameris Bancorp in the fourth quarter valued at approximately $5,817,000. JPMorgan Chase & Co. lifted its stake in Ameris Bancorp by 169.9% in the third quarter. JPMorgan Chase & Co. now owns 139,584 shares of the bank’s stock valued at $6,687,000 after buying an additional 87,876 shares during the period. State Street Corp lifted its stake in Ameris Bancorp by 7.3% in the second quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock valued at $60,687,000 after buying an additional 85,137 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Ameris Bancorp by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock valued at $124,784,000 after buying an additional 65,815 shares during the period. 81.78% of the stock is currently owned by hedge funds and other institutional investors.
ABCB has been the topic of a number of recent analyst reports. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a research note on Monday, October 23rd. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.33.
COPYRIGHT VIOLATION WARNING: “Dennis J. Zember, Jr. Sells 5,000 Shares of Ameris Bancorp (ABCB) Stock” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/dennis-j-zember-jr-sells-5000-shares-of-ameris-bancorp-abcb-stock/1843744.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.