Ameris Bancorp (NYSE:ABCB) Releases Earnings Results, Beats Estimates By $0.05 EPS

Ameris Bancorp (NYSE:ABCB) posted its earnings results on Thursday. The bank reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05, FiscalAI reports. Ameris Bancorp had a net margin of 21.98% and a return on equity of 10.62%. The firm had revenue of $320.94 million for the quarter, compared to the consensus estimate of $326.66 million. During the same period last year, the firm posted $1.54 EPS. The company’s revenue was up 2.4% on a year-over-year basis.

Ameris Bancorp Stock Performance

Shares of ABCB stock traded down $0.17 during mid-day trading on Friday, hitting $82.20. The stock had a trading volume of 12,128 shares, compared to its average volume of 501,031. Ameris Bancorp has a fifty-two week low of $69.58 and a fifty-two week high of $93.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.04 and a quick ratio of 1.02. The company’s 50-day simple moving average is $83.11 and its 200-day simple moving average is $85.42. The firm has a market cap of $5.52 billion, a PE ratio of 14.87 and a beta of 0.96.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s dividend payout ratio is presently 14.47%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Weiss Ratings started coverage on Ameris Bancorp in a research report on Wednesday, September 2nd. They issued a “buy (b)” rating for the company. Truist Financial dropped their price target on Ameris Bancorp from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. DA Davidson lifted their price target on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Ameris Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

More Ameris Bancorp News

Here are the key news stories impacting Ameris Bancorp this week:

• Positive Sentiment: EPS beat expectations: Ameris Bancorp reported adjusted and GAAP earnings of $1.73 per diluted share, exceeding the $1.68 analyst consensus and rising from $1.54 a year earlier. Net income increased to $116.1 million from $106.0 million. Ameris Bancorp Q3 Earnings Top Estimates
• Positive Sentiment: Shareholder returns boosted: The board authorized up to $200 million in common-stock repurchases through October 31, 2027. Buybacks can support earnings per share and signal management confidence in the bank’s valuation and capital position. Ameris Bancorp Announces New $200 Million Share Repurchase
• Neutral Sentiment: Loan and deposit growth continued: Loans increased by $173.1 million and deposits rose by $319.4 million during the quarter. Total assets reached $28.55 billion and deposits totaled $22.91 billion, indicating continued balance-sheet expansion, although the release did not indicate how growth may affect future margins. Ameris Bancorp Posts Third-Quarter Net Income
• Negative Sentiment: Revenue missed estimates: Quarterly revenue was approximately $321.8 million, below the $326.7 million FactSet estimate, despite increasing 2.4% year over year. The $4.9 million shortfall suggests that stronger profitability was not accompanied by top-line performance. Ameris Bancorp Q3 Revenue

About Ameris Bancorp

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.