Ameris Bancorp (NASDAQ:ABCB) – Research analysts at FIG Partners reduced their Q4 2017 earnings per share (EPS) estimates for Ameris Bancorp in a report issued on Tuesday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings of $0.65 per share for the quarter, down from their prior forecast of $0.66. FIG Partners also issued estimates for Ameris Bancorp’s Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $0.77 EPS and Q4 2018 earnings at $0.86 EPS.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%.
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Other research analysts have also issued reports about the company. Stephens reiterated a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and set a $48.00 target price on shares of Ameris Bancorp in a report on Friday, July 21st. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Ameris Bancorp currently has an average rating of “Hold” and a consensus target price of $52.25.
Ameris Bancorp (NASDAQ ABCB) opened at $45.80 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07. The firm has a market capitalization of $1,703.32, a PE ratio of 18.45 and a beta of 1.19. Ameris Bancorp has a twelve month low of $40.05 and a twelve month high of $51.28.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABCB. BlackRock Inc. raised its stake in shares of Ameris Bancorp by 83,097.4% in the 1st quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock valued at $215,205,000 after purchasing an additional 4,662,595 shares during the period. Vanguard Group Inc. raised its stake in shares of Ameris Bancorp by 47.6% in the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock valued at $116,312,000 after purchasing an additional 813,184 shares during the period. Oak Ridge Investments LLC increased its position in shares of Ameris Bancorp by 228.9% in the third quarter. Oak Ridge Investments LLC now owns 542,628 shares of the bank’s stock valued at $26,046,000 after acquiring an additional 377,628 shares during the last quarter. State Street Corp increased its position in shares of Ameris Bancorp by 20.1% in the first quarter. State Street Corp now owns 1,173,810 shares of the bank’s stock valued at $54,115,000 after acquiring an additional 196,240 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Ameris Bancorp in the second quarter valued at about $8,570,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Leo J. Hill purchased 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $42.75 per share, with a total value of $42,750.00. Following the purchase, the director now directly owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.63% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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