Brokerages Anticipate Ameris Bancorp (NASDAQ:ABCB) Will Announce Earnings of $0.99 Per Share

Brokerages forecast that Ameris Bancorp (NASDAQ:ABCB) will report earnings per share (EPS) of $0.99 for the current quarter, Zacks reports. Two analysts have issued estimates for Ameris Bancorp’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.01. Ameris Bancorp posted earnings per share of $0.74 in the same quarter last year, which indicates a positive year over year growth rate of 33.8%. The company is expected to issue its next quarterly earnings results on Friday, July 26th.

According to Zacks, analysts expect that Ameris Bancorp will report full year earnings of $4.00 per share for the current financial year, with EPS estimates ranging from $3.80 to $4.13. For the next fiscal year, analysts forecast that the company will post earnings of $4.74 per share, with EPS estimates ranging from $4.72 to $4.78. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 EPS for the quarter, missing the 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 business had revenue of $130.20 million during the quarter, compared to the consensus estimate of $130.90 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up 36.6% compared to the same quarter last year.

Several research firms have recently commented on ABCB. BidaskClub lowered shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, TheStreet upgraded shares of Ameris Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $51.50.

Shares of NASDAQ:ABCB traded up $0.12 during trading hours on Tuesday, hitting $37.84. The company’s stock had a trading volume of 3,785 shares, 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 company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $1.79 billion, a P/E ratio of 11.14 and a beta of 1.44. The company’s fifty day moving average is $36.75.

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 11.83%.

In other news, Director Elizabeth A. Mccague acquired 800 shares of Ameris Bancorp stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $30,000.00. Following the purchase, the director now directly owns 7,692 shares in the company, valued at approximately $288,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABCB. Toronto Dominion Bank acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $26,000. Versant Capital Management Inc raised its position in shares of Ameris Bancorp by 1,124.7% in the first 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 during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $56,000. Stephens Inc. AR raised its position in shares of Ameris Bancorp by 28.6% in the fourth quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock valued at $111,000 after buying an additional 777 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Ameris Bancorp by 38.2% in the fourth 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 during the last quarter. Hedge funds and other institutional investors 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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