Insiders Were Right: ABCB Makes New 52-Week High

In trading on Wednesday, shares of Ameris Bancorp (ABCB) touched a new 52-week high of $20.58/share. That's a 93.42% rise, or $9.94 per share from the 52-week low of $10.64 set back on 11/26/2012. That means at today's intraday high, any investor who purchased ABCB stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, ABCB has seen 3 different instances of insiders buying over the trailing six month period.

START SLIDESHOW:
Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
07/23/2013 Jimmy D. Veal Director 525 $18.54 $9,733.50
10/23/2013 Leo J. Hill Director 1,500 $17.93 $26,895.00
10/24/2013 Leo J. Hill Director 915 $17.85 $16,332.75
11/01/2013 Leo J. Hill Director 585 $17.99 $10,524.15
11/05/2013 Brooks Sheldon Director 4,000 $18.16 $72,640.00

The chart below shows where ABCB has traded over the past year, with the 50-day and 200-day moving averages included.

Ameris Bancorp Moving Averages Chart

In afternoon trading on Wednesday, ABCB shares are changing hands at $20.41/share, slightly below the new 52-week high.

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