Ameris Bancorp (NASDAQ:ABCB) Director Sells $559,280.00 in Stock

07 Nov 2024, 21:56 by Tristan Rich · The Markets Daily

Ameris Bancorp (NASDAQ:ABCB – Get Free Report) Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares in the company, valued at $1,918,610.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ameris Bancorp Trading Down 2.6 %

Shares of ABCB stock traded down $1.82 on Thursday, hitting $69.32. 626,828 shares of the company’s stock traded hands, compared to its average volume of 363,826. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03. Ameris Bancorp has a one year low of $38.71 and a one year high of $71.96. The company’s fifty day simple moving average is $62.13 and its 200 day simple moving average is $55.76. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 14.82 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The company had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same quarter last year, the firm earned $1.16 EPS. Equities analysts forecast that Ameris Bancorp will post 4.84 EPS for the current year.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

Analysts Set New Price Targets

Several research firms have issued reports on ABCB. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. DA Davidson increased their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stephens increased their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Check Out Our Latest Report on ABCB

Institutional Investors Weigh In On Ameris Bancorp

A number of large investors have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in Ameris Bancorp in the 3rd quarter worth $311,000. Thrivent Financial for Lutherans grew its holdings in Ameris Bancorp by 5.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 62,566 shares of the bank’s stock worth $3,903,000 after acquiring an additional 3,005 shares during the last quarter. Natixis Advisors LLC grew its holdings in Ameris Bancorp by 2.8% in the 3rd quarter. Natixis Advisors LLC now owns 23,599 shares of the bank’s stock worth $1,472,000 after acquiring an additional 646 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Ameris Bancorp in the 3rd quarter worth $232,000. Finally, Victory Capital Management Inc. grew its holdings in Ameris Bancorp by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after acquiring an additional 12,054 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

About Ameris Bancorp

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