Ameris Bancorp (ABCB) to Release Quarterly Earnings on Monday

Ameris Bancorp (NASDAQ:ABCB) is expected to announce its earnings results after the market closes on Monday, July 28th. Analysts expect the company to announce earnings of $1.35 per share and revenue of $298.26 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business had revenue of $285.86 million for the quarter, compared to the consensus estimate of $276.06 million. During the same period in the prior year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect Ameris Bancorp to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Ameris Bancorp Stock Down 0.1%

ABCB stock opened at $67.34 on Monday. The stock’s 50 day simple moving average is $63.58 and its 200 day simple moving average is $61.31. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $4.64 billion, a P/E ratio of 12.92 and a beta of 0.93.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, June 30th. Ameris Bancorp’s dividend payout ratio is currently 14.81%.

Institutional Trading of Ameris Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of ABCB. United Services Automobile Association purchased a new stake in shares of Ameris Bancorp during the first quarter valued at approximately $243,000. NewEdge Advisors LLC increased its position in shares of Ameris Bancorp by 36.7% during the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after acquiring an additional 3,129 shares during the last quarter. Royal Bank of Canada increased its position in shares of Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock valued at $1,687,000 after acquiring an additional 2,546 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ameris Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after purchasing an additional 1,703 shares during the period. Finally, Jane Street Group LLC bought a new position in Ameris Bancorp during the first quarter valued at $10,528,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ABCB shares. Stephens reissued an “equal weight” rating and set a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Piper Sandler Companies boosted their price objective on Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Piper Sandler started coverage on Ameris Bancorp in a report on Friday, April 4th. They set an “overweight” rating and a $74.00 price objective for the company. Finally, Raymond James Financial decreased their price objective on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

About Ameris Bancorp

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.