Wall Street analysts predict that Ameris Bancorp (NASDAQ:ABCB) will post $0.99 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ameris Bancorp’s earnings. The lowest EPS estimate is $0.98 and the highest is $1.01. Ameris Bancorp posted earnings per share of $0.74 in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.8%. The business is scheduled to issue its next earnings results on Friday, July 26th.
On average, analysts expect that Ameris Bancorp will report full-year earnings of $4.00 per share for the current year, with EPS estimates ranging from $3.80 to $4.13. For the next financial year, analysts expect that the business will post earnings of $4.74 per share, with EPS estimates ranging from $4.72 to $4.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a net margin of 23.09% and a return on equity of 11.24%. The company had revenue of $130.20 million for the quarter, compared to the consensus estimate of $130.90 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 36.6% on a year-over-year basis.
ABCB has been the subject of a number of research reports. TheStreet raised shares of Ameris Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, June 19th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, April 2nd. Finally, BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Ameris Bancorp currently has a consensus rating of “Buy” and a consensus price target of $51.50.
Shares of Ameris Bancorp stock traded up $0.12 on Tuesday, reaching $37.84. 3,785 shares of the company traded hands, compared to its average volume of 288,109. Ameris Bancorp has a 52 week low of $29.97 and a 52 week high of $56.45. The business has a 50 day moving average of $36.75. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 11.14 and a beta of 1.44. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 27th. Ameris Bancorp’s payout ratio is currently 11.83%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague purchased 800 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $37.50 per share, for a total transaction of $30,000.00. Following the purchase, the director now owns 7,692 shares of the company’s stock, valued at approximately $288,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ABCB. Toronto Dominion Bank purchased a new stake in shares of Ameris Bancorp during the 4th quarter valued at $26,000. Versant Capital Management Inc raised its position in shares of Ameris Bancorp by 1,124.7% during the 1st quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock valued at $37,000 after buying an additional 1,001 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Ameris Bancorp during the 4th quarter valued at $56,000. Stephens Inc. AR raised its position in shares of Ameris Bancorp by 28.6% during the 4th quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock valued at $111,000 after buying an additional 777 shares in the last quarter. Finally, Advisor Group Inc. raised its position in shares of Ameris Bancorp by 38.2% during the 4th quarter. Advisor Group Inc. now owns 3,886 shares of the bank’s stock valued at $123,000 after buying an additional 1,075 shares in the last quarter. 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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