Ameris Bancorp (NASDAQ:ABCB) Director Jimmy D. Veal Sells 1,120 Shares

Ameris Bancorp (NASDAQ:ABCBGet Rating) Director Jimmy D. Veal sold 1,120 shares of Ameris Bancorp stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $51.87, for a total value of $58,094.40. Following the transaction, the director now directly owns 88,425 shares in the company, valued at approximately $4,586,604.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ameris Bancorp Stock Down 0.5 %

ABCB stock traded down $0.28 during trading hours on Thursday, hitting $52.67. The company’s stock had a trading volume of 175,672 shares, compared to its average volume of 367,118. The stock has a 50 day moving average price of $49.66 and a two-hundred day moving average price of $46.25. Ameris Bancorp has a 12 month low of $38.22 and a 12 month high of $55.62. The company has a market capitalization of $3.65 billion, a PE ratio of 10.56 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 10th. Shareholders of record on Friday, September 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. Ameris Bancorp’s dividend payout ratio is currently 12.02%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in shares of Ameris Bancorp by 3.1% during the 3rd quarter. Captrust Financial Advisors now owns 6,691 shares of the bank’s stock worth $299,000 after purchasing an additional 202 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Ameris Bancorp by 2.6% in the third quarter. Verdence Capital Advisors LLC now owns 8,009 shares of the bank’s stock valued at $358,000 after acquiring an additional 205 shares during the period. First Republic Investment Management Inc. increased its position in Ameris Bancorp by 1.7% during the first quarter. First Republic Investment Management Inc. now owns 16,844 shares of the bank’s stock worth $739,000 after acquiring an additional 289 shares during the period. CWM LLC raised its stake in Ameris Bancorp by 89.5% during the 3rd quarter. CWM LLC now owns 667 shares of the bank’s stock valued at $30,000 after purchasing an additional 315 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Ameris Bancorp by 0.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 48,375 shares of the bank’s stock valued at $1,944,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 86.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABCB shares. Truist Financial increased their target price on shares of Ameris Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 31st. Raymond James cut Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 31st. Finally, StockNews.com began coverage on Ameris Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Ameris Bancorp Company Profile

(Get Rating)

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

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