$97.92 Million in Sales Expected for Ameris Bancorp (ABCB) This Quarter

Equities research analysts expect that Ameris Bancorp (NASDAQ:ABCB) will post sales of $97.92 million for the current quarter, Zacks reports. Two analysts have issued estimates for Ameris Bancorp’s earnings. The lowest sales estimate is $97.20 million and the highest is $98.64 million. Ameris Bancorp posted sales of $81.55 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.1%. The business is expected to announce its next earnings report on Friday, January 19th.

According to Zacks, analysts expect that Ameris Bancorp will report full year sales of $97.92 million for the current financial year, with estimates ranging from $373.60 million to $375.00 million. For the next financial year, analysts forecast that the company will post sales of $432.10 million per share, with estimates ranging from $426.90 million to $437.30 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $93.85 million for the quarter, compared to analysts’ expectations of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%.

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research report on Thursday. Piper Jaffray Companies set a $50.00 price objective on shares of Ameris Bancorp and gave the company a “hold” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Stephens reiterated a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research report on Thursday, September 28th. Finally, BidaskClub cut shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.25.

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Shares of Ameris Bancorp (NASDAQ ABCB) traded down 1.84% during midday trading on Friday, reaching $47.90. 158,066 shares of the company’s stock traded hands. Ameris Bancorp has a one year low of $35.15 and a one year high of $51.28. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 20.58 and a beta of 1.29. The company has a 50-day moving average of $47.15 and a 200-day moving average of $46.18.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, September 28th. Ameris Bancorp’s dividend payout ratio is currently 17.62%.

In related news, Director Leo J. Hill bought 1,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $42.75 per share, with a total value of $42,750.00. Following the completion of the purchase, the director now owns 16,629 shares of the company’s stock, valued at $710,889.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.63% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ABCB. UBS Asset Management Americas Inc. boosted its stake in shares of Ameris Bancorp by 241.1% during the first quarter. UBS Asset Management Americas Inc. now owns 18,909 shares of the bank’s stock valued at $872,000 after purchasing an additional 13,365 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Ameris Bancorp by 154.0% during the first quarter. Parametric Portfolio Associates LLC now owns 40,344 shares of the bank’s stock valued at $1,860,000 after purchasing an additional 24,460 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ameris Bancorp by 1.6% during the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after purchasing an additional 55 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Ameris Bancorp by 1.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock valued at $368,000 after purchasing an additional 140 shares during the period. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Ameris Bancorp during the first quarter valued at $279,000. 82.66% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

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Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

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