Brokerages predict that Ameris Bancorp (NASDAQ:ABCB) will report $131.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ameris Bancorp’s earnings. The highest sales estimate is $132.60 million and the lowest is $131.00 million. Ameris Bancorp posted sales of $93.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 41.6%. The firm is expected to issue its next earnings report on Friday, January 25th.
On average, analysts expect that Ameris Bancorp will report full-year sales of $464.65 million for the current financial year, with estimates ranging from $462.79 million to $466.50 million. For the next year, analysts expect that the business will post sales of $557.95 million, with estimates ranging from $545.00 million to $570.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. The business had revenue of $129.21 million for the quarter, compared to analysts’ expectations of $135.44 million. Ameris Bancorp had a net margin of 17.99% and a return on equity of 11.14%.
A number of analysts have recently commented on the stock. BidaskClub cut shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 13th. Stephens restated a “buy” rating and set a $62.00 target price on shares of Ameris Bancorp in a report on Friday, July 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $61.00 target price on shares of Ameris Bancorp in a report on Friday, July 27th. TheStreet cut shares of Ameris Bancorp from a “b” rating to a “c+” rating in a report on Friday, August 17th. Finally, Zacks Investment Research cut shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.67.
NASDAQ:ABCB traded up $0.46 during trading hours on Friday, hitting $43.79. The company had a trading volume of 2,849 shares, compared to its average volume of 332,290. The stock has a market cap of $2.08 billion, a P/E ratio of 17.58 and a beta of 1.16. Ameris Bancorp has a 52 week low of $39.34 and a 52 week high of $59.05. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.53.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, September 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague bought 1,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were purchased at an average price of $50.05 per share, for a total transaction of $50,050.00. Following the acquisition, the director now owns 5,226 shares in the company, valued at approximately $261,561.30. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.07% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Ameris Bancorp by 7.4% in the 2nd quarter. New York State Teachers Retirement System now owns 16,843 shares of the bank’s stock worth $899,000 after purchasing an additional 1,155 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Ameris Bancorp by 7.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the bank’s stock worth $971,000 after purchasing an additional 1,200 shares during the last quarter. Piedmont Investment Advisors LLC raised its position in shares of Ameris Bancorp by 15.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 9,440 shares of the bank’s stock worth $504,000 after purchasing an additional 1,266 shares during the last quarter. Amalgamated Bank raised its position in shares of Ameris Bancorp by 24.3% in the 2nd quarter. Amalgamated Bank now owns 6,485 shares of the bank’s stock worth $346,000 after purchasing an additional 1,267 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Ameris Bancorp by 8.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,334 shares of the bank’s stock worth $978,000 after purchasing an additional 1,479 shares during the last quarter. 78.16% of the stock is owned by hedge funds and other 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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