James A. Lahaise Sells 14,200 Shares of Ameris Bancorp (ABCB) Stock

Ameris Bancorp (NASDAQ:ABCB) insider James A. Lahaise sold 14,200 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total transaction of $661,436.00. Following the completion of the sale, the insider now owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ameris Bancorp (ABCB) opened at $48.30 on Friday. Ameris Bancorp has a 1-year low of $41.05 and a 1-year high of $51.30. The stock has a market cap of $1,725.66, a P/E ratio of 18.69 and a beta of 1.19. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The business had revenue of $93.85 million for the quarter, compared to analysts’ expectations of $96.89 million. sell-side analysts predict that Ameris Bancorp will post 2.48 EPS for the current fiscal year.

Several brokerages have commented on ABCB. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, October 26th. Piper Jaffray Companies set a $48.00 price objective on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Friday, October 6th. BidaskClub lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, ValuEngine lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.25.

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Ameris Bancorp by 8.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after purchasing an additional 248 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Ameris Bancorp by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock valued at $159,000 after acquiring an additional 1,797 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,125 shares of the bank’s stock valued at $199,000 after acquiring an additional 619 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $204,000. Finally, Flinton Capital Management LLC increased its position in shares of Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after acquiring an additional 2,142 shares in the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

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About Ameris Bancorp

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.

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