Zacks: Analysts Expect Ameris Bancorp (NASDAQ: ABCB) to Report Earnings of $ 1.20 Per Share
Analysts predict Ameris Bancorp (NASDAQ: ABCB) to post earnings of $ 1.20 per share for the current quarter, Zacks investment research reports. Four analysts provided earnings estimates for Ameris Bancorp. The highest EPS estimate is $ 1.24 and the lowest is $ 1.17. Ameris Bancorp posted earnings per share of $ 1.69 in the same quarter last year, which would indicate a negative year-over-year growth rate of 29%. The company is expected to report its next results after market close on Thursday, October 28.
On average, analysts expect Ameris Bancorp to report annual earnings of $ 5.34 per share for the current year, with EPS estimates ranging from $ 5.25 to $ 5.38. For the next fiscal year, analysts predict the company will post earnings of $ 4.25 per share, with EPS estimates ranging from $ 4.10 to $ 4.46. Zacks’ EPS calculations are an average based on a survey of sales analysts who provide coverage for Ameris Bancorp.
Ameris Bancorp (NASDAQ: ABCB) last released its results on Wednesday, July 21. The bank reported earnings per share (EPS) of $ 1.25 for the quarter, beating the consensus estimate of $ 1.20 by $ 0.05. Ameris Bancorp recorded a return on equity of 15.63% and a net margin of 35.64%. The company posted revenue of $ 251.09 million for the quarter, compared to analysts’ estimates of $ 263.83 million. In the same quarter of the previous year, the company posted earnings per share of $ 0.61.
A number of research companies recently commented on ABCB. Stephens downgraded Ameris Bancorp’s stock from an “overweight” rating to a “peer-to-peer” rating and set a target price of $ 56.00 for the stock. in a report on Thursday, September 30. Zacks investment research downgraded Ameris Bancorp shares from a âbuyâ rating to a âconservationâ rating in a report released on Monday, July 12. Three investment analysts rated the stock with a conservation rating and two issued a buy rating for the company. According to MarketBeat, the stock currently has a consensus rating of âHoldâ and an average target price of $ 54.00.
ABCB traded at $ 0.79 on Friday, reaching $ 54.41. 231,163 shares of the company were traded, for an average volume of 416,210. The company has a leverage ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.05. The company has a market cap of $ 3.80 billion, a PE ratio of 8.93 and a beta of 1.40. The stock’s fifty-day moving average is $ 49.79 and its 200-day moving average is $ 51.29. Ameris Bancorp has a 12-month low of $ 27.15 and a 12-month high of $ 59.85.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 8. Investors of record on Thursday, September 30, received a dividend of $ 0.15. The ex-dividend date was Wednesday, September 29. This represents a dividend of $ 0.60 on an annualized basis and a return of 1.10%. Ameris Bancorp’s dividend payout ratio is 13.86%.
In other news from Ameris Bancorp, CEO H Palmer Proctor, Jr. acquired 2,500 shares of Ameris Bancorp in a transaction that took place on Tuesday, July 27. The stock was acquired at an average cost of $ 46.71 per share, for a total transaction of $ 116,775. The acquisition has been disclosed in a legal file with the SEC, which is available at this link. 5.50% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Ameris Bancorp shares by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 827,378 shares of the bank valued at $ 43,446,000 after purchasing 3,580 additional shares last quarter. UBS Asset Management Americas Inc. increased its position in Ameris Bancorp shares by 1.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 86,286 shares of the bank valued at $ 4,531,000 after purchasing an additional 1,251 shares in the last quarter. The Toronto Dominion Bank increased its position in Ameris Bancorp shares by 42.3% in the second quarter. The Toronto Dominion Bank now owns 1,600 shares of the bank valued at $ 81,000 after purchasing an additional 476 shares last quarter. Mutual of America Capital Management LLC increased its position in Ameris Bancorp shares by 7.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 9,298 shares of the bank valued at $ 488,000 after purchasing an additional 606 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Ameris Bancorp shares by 71.5% during the second quarter. Envestnet Asset Management Inc. now owns 53,738 shares of the bank valued at $ 2,721,000 after purchasing an additional 22,399 shares last quarter. Hedge funds and other institutional investors hold 88.29% of the company’s shares.
About Ameris Bancorp
Ameris Bancorp is a banking holding company which, through its subsidiary Ameris Bank, provides banking services to its retail and commercial customers. It operates in the following business segments: Banking, Retail Mortgage, Warehouse Lending, SBA and Premium Finance. The banking industry offers comprehensive financial services, including business loans, consumer loans, and deposit accounts.
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