Analysts Anticipate Ameris Bancorp (NASDAQ:ABCB) to Announce $0.97 EPS

Brokerages expect Ameris Bancorp (NASDAQ:ABCB) to post earnings of $0.97 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Ameris Bancorp’s earnings. The highest EPS estimate is $1.08 and the lowest is $0.92. Ameris Bancorp reported earnings per share of $0.91 in the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The firm is scheduled to issue its next quarterly earnings results on Friday, October 18th.

On average, analysts expect that Ameris Bancorp will report full year earnings of $3.83 per share for the current financial year, with EPS estimates ranging from $3.70 to $4.07. For the next fiscal year, analysts forecast that the business will post earnings of $4.48 per share, with EPS estimates ranging from $4.25 to $4.72. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, July 26th. The bank reported $0.96 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.96. Ameris Bancorp had a return on equity of 12.01% and a net margin of 26.23%. The business had revenue of $136.90 million during the quarter, compared to analysts’ expectations of $139.72 million. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year.

Several analysts recently weighed in on the company. Zacks Investment Research raised Ameris Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday. TheStreet upgraded shares of Ameris Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, June 19th. Stephens reiterated a “buy” rating and issued a $52.00 target price on shares of Ameris Bancorp in a research note on Monday, July 1st. Raymond James assumed coverage on shares of Ameris Bancorp in a research note on Thursday, July 11th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, BidaskClub cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.60.

Ameris Bancorp stock traded down $0.41 during mid-day trading on Friday, reaching $38.17. 267,937 shares of the company were exchanged, compared to its average volume of 415,554. Ameris Bancorp has a twelve month low of $29.97 and a twelve month high of $50.50. The stock has a 50-day moving average price of $38.57. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.29 and a beta of 1.46.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, June 27th. Ameris Bancorp’s payout ratio is presently 11.83%.

In related news, Director Elizabeth A. Mccague bought 800 shares of Ameris Bancorp stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $37.50 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the director now owns 7,692 shares in the company, valued at $288,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of ABCB. Geode Capital Management LLC boosted its position in shares of Ameris Bancorp by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 473,221 shares of the bank’s stock valued at $14,986,000 after acquiring an additional 23,675 shares during the period. State of Wisconsin Investment Board grew its holdings in shares of Ameris Bancorp by 29.7% during the first quarter. State of Wisconsin Investment Board now owns 382,800 shares of the bank’s stock valued at $13,149,000 after purchasing an additional 87,600 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Ameris Bancorp by 2.3% during the second quarter. Stephens Investment Management Group LLC now owns 376,572 shares of the bank’s stock worth $14,758,000 after buying an additional 8,537 shares during the period. Norges Bank acquired a new position in shares of Ameris Bancorp during the fourth quarter worth approximately $10,009,000. Finally, Oak Ridge Investments LLC boosted its position in shares of Ameris Bancorp by 50.3% during the first quarter. Oak Ridge Investments LLC now owns 301,279 shares of the bank’s stock worth $10,349,000 after buying an additional 100,789 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

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