Wall Street brokerages forecast that Ameris Bancorp (NASDAQ:ABCB) will post $136.18 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Ameris Bancorp’s earnings. The lowest sales estimate is $134.70 million and the highest is $138.40 million. Ameris Bancorp posted sales of $107.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.9%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, July 26th.
According to Zacks, analysts expect that Ameris Bancorp will report full-year sales of $695.13 million for the current year, with estimates ranging from $682.00 million to $701.00 million. For the next financial year, analysts forecast that the firm will post sales of $877.73 million, with estimates ranging from $840.20 million to $910.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Ameris Bancorp had a net margin of 23.09% and a return on equity of 11.24%. The firm had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. During the same period in the previous year, the company earned $0.73 EPS. Ameris Bancorp’s revenue was up 36.6% compared to the same quarter last year.
Shares of Ameris Bancorp stock traded up $0.15 during mid-day trading on Friday, reaching $37.78. 349,430 shares of the stock traded hands, compared to its average volume of 754,541. The company has a 50-day moving average price of $37.99. Ameris Bancorp has a fifty-two week low of $29.97 and a fifty-two week high of $52.47. The stock has a market capitalization of $1.80 billion, a PE ratio of 11.18 and a beta of 1.45. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were given a $0.10 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 11.83%.
In related news, Director Elizabeth A. Mccague purchased 800 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average cost of $37.50 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now directly owns 7,692 shares of the company’s stock, valued at $288,450. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of ABCB. Versant Capital Management Inc grew its position in Ameris Bancorp by 1,124.7% in the first quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock worth $37,000 after acquiring an additional 1,001 shares during the period. AdvisorNet Financial Inc grew its position in Ameris Bancorp by 256.0% in the second quarter. AdvisorNet Financial Inc now owns 1,780 shares of the bank’s stock worth $70,000 after acquiring an additional 1,280 shares during the period. Advisor Group Inc. grew its position in Ameris Bancorp by 38.2% in the fourth quarter. Advisor Group Inc. now owns 3,886 shares of the bank’s stock worth $123,000 after acquiring an additional 1,075 shares during the period. Pearl River Capital LLC purchased a new position in Ameris Bancorp in the first quarter worth approximately $148,000. Finally, Amalgamated Bank purchased a new position in Ameris Bancorp in the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 87.00% of the company’s stock.
About Ameris Bancorp
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, 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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