Wall Street analysts predict that Ameris Bancorp (NASDAQ:ABCB) will report earnings of $0.87 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Ameris Bancorp’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.88. Ameris Bancorp posted earnings per share of $0.63 in the same quarter last year, which would indicate a positive year over year growth rate of 38.1%. The firm is scheduled to issue its next quarterly earnings report on Friday, July 20th.
On average, analysts expect that Ameris Bancorp will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.39 to $3.56. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.28 per share, with EPS estimates ranging from $4.26 to $4.29. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, April 20th. The bank reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). Ameris Bancorp had a net margin of 19.19% and a return on equity of 12.09%. The business had revenue of $95.27 million for the quarter, compared to the consensus estimate of $100.49 million.
ABCB has been the subject of several recent research reports. Zacks Investment Research lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub upgraded Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. SunTrust Banks cut their price target on Ameris Bancorp from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 23rd. Finally, Stephens restated a “buy” rating on shares of Ameris Bancorp in a research note on Monday, April 23rd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.00.
Shares of Ameris Bancorp stock traded down $0.20 on Friday, hitting $56.50. The stock had a trading volume of 7,801 shares, compared to its average volume of 233,550. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $41.05 and a one year high of $59.05. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.70 and a beta of 1.20.
In related news, Director Robert Dale Ezzell sold 6,800 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $56.60, for a total value of $384,880.00. Following the transaction, the director now directly owns 32,772 shares of the company’s stock, valued at approximately $1,854,895.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.07% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors purchased a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $116,000. SG Americas Securities LLC purchased a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $124,000. Bank of Montreal Can raised its holdings in shares of Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after acquiring an additional 1,002 shares in the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $203,000. Finally, Elkfork Partners LLC purchased a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $246,000. 87.72% of the stock is currently owned by institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.
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