Intel stock extends gains after report of possible U.S. government stake
Douglas D. Strange, the Chief Credit Officer of Ameris Bancorp (NASDAQ:NYSE:ABCB), recently purchased 1,000 shares of the company’s common stock. The transaction, which took place on March 12, 2025, was executed at a price of $56.95 per share, totaling $56,953. According to InvestingPro analysis, the stock appears undervalued compared to its Fair Value, with analyst price targets ranging from $71 to $80.
Following this acquisition, Strange’s direct ownership in Ameris Bancorp increased to 19,403 shares. Additionally, there are 205 shares held indirectly by his spouse. This purchase reflects a continued investment in the company by its senior executive, reinforcing confidence in Ameris Bancorp’s prospects. The bank has maintained dividend payments for 11 consecutive years and trades at an attractive P/E ratio of 10.7x. InvestingPro analysis reveals 8 additional key insights about ABCB’s financial health and growth potential.
In other recent news, Ameris Bancorp has reported strong financial performance for the fourth quarter of 2024, exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $1.38, surpassing the forecast of $1.18, and recorded revenue of $290.78 million, which was higher than the anticipated $276.17 million. Additionally, Ameris Bancorp announced a 33% increase in its quarterly dividend, raising it from $0.15 to $0.20 per share. The company’s robust capital position is underscored by a Common Equity Tier 1 ratio of 12.6%. Analyst Manuel Navas from DA Davidson maintained a Buy rating on Ameris Bancorp with a price target of $78.00, citing the company’s strong net interest income and operational expenditure management. The net interest margin increased by 13 basis points, although a partial reversal is expected in the first quarter. Ameris Bancorp’s strategic focus on enhancing loan production and reducing broker deposits has contributed to its strong performance. The company is well-positioned for continued success in 2025, with targets for fee income growth and expense management.
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