Analysts Expect Ameris Bancorp (ABCB) Will Announce Quarterly Sales of $109.91 Million

Equities research analysts forecast that Ameris Bancorp (NASDAQ:ABCB) will report $109.91 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Ameris Bancorp’s earnings, with the highest sales estimate coming in at $110.60 million and the lowest estimate coming in at $109.20 million. Ameris Bancorp reported sales of $91.35 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.3%. The firm is scheduled to announce its next earnings report on Friday, July 20th.

According to Zacks, analysts expect that Ameris Bancorp will report full year sales of $475.23 million for the current fiscal year, with estimates ranging from $469.10 million to $482.20 million. For the next financial year, analysts expect that the business will post sales of $591.30 million per share, with estimates ranging from $569.20 million to $620.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, April 20th. The bank reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.05). The business had revenue of $95.27 million for the quarter, compared to the consensus estimate of $100.49 million. Ameris Bancorp had a net margin of 19.19% and a return on equity of 12.09%.

A number of analysts have commented on the stock. BidaskClub upgraded shares of Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Zacks Investment Research lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. Finally, ValuEngine lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Ameris Bancorp currently has a consensus rating of “Buy” and a consensus target price of $55.00.

ABCB stock traded down $0.20 during midday trading on Monday, reaching $56.50. 7,801 shares of the company’s stock traded hands, compared to its average volume of 233,550. The firm has a market capitalization of $2.22 billion, a PE ratio of 22.70 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.74. Ameris Bancorp has a 52 week low of $41.05 and a 52 week high of $59.05.

In other news, Director Robert Dale Ezzell sold 6,800 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $56.60, for a total value of $384,880.00. Following the completion of the sale, the director now owns 32,772 shares in the company, valued at approximately $1,854,895.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. Optimum Investment Advisors bought a new position in Ameris Bancorp during the first quarter valued at about $116,000. SG Americas Securities LLC bought a new position in Ameris Bancorp during the first quarter valued at about $124,000. Bank of Montreal Can grew its position in Ameris Bancorp by 45.8% during the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after buying an additional 1,002 shares during the period. Kovack Advisors Inc. bought a new position in Ameris Bancorp during the first quarter valued at about $203,000. Finally, Elkfork Partners LLC bought a new position in Ameris Bancorp during the fourth quarter valued at about $246,000. Institutional investors own 87.72% of the company’s stock.

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

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