Ameris Bancorp (ABCB) Set to Announce Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.06 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.05). Ameris Bancorp had a return on equity of 8.30% and a net margin of 17.67%. The business had revenue of $262.35 million during the quarter, compared to analyst estimates of $267.23 million. On average, analysts expect Ameris Bancorp to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ameris Bancorp Trading Up 0.2 %

Shares of NASDAQ:ABCB opened at $44.51 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.41 and a beta of 1.05. Ameris Bancorp has a 1-year low of $28.33 and a 1-year high of $53.99. The company has a 50 day moving average price of $46.65 and a 200 day moving average price of $45.78.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABCB. Stephens reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a research report on Tuesday, January 30th. DA Davidson reiterated a “buy” rating on shares of Ameris Bancorp in a report on Monday, January 15th. StockNews.com downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Truist Financial lowered their price objective on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.25.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Jon S. Edwards sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the sale, the insider now directly owns 59,691 shares of the company’s stock, valued at $2,826,368.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at approximately $41,000. Federated Hermes Inc. lifted its stake in shares of Ameris Bancorp by 41.9% in the 3rd quarter. Federated Hermes Inc. now owns 1,269 shares of the bank’s stock valued at $57,000 after purchasing an additional 375 shares during the last quarter. State of Wyoming increased its position in Ameris Bancorp by 26.2% during the fourth quarter. State of Wyoming now owns 1,294 shares of the bank’s stock worth $61,000 after buying an additional 269 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in Ameris Bancorp by 202.5% during the first quarter. Point72 Hong Kong Ltd now owns 2,211 shares of the bank’s stock valued at $97,000 after buying an additional 1,480 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Ameris Bancorp by 43.9% in the fourth quarter. Lazard Asset Management LLC now owns 2,821 shares of the bank’s stock worth $132,000 after buying an additional 861 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.