Ameris Bancorp (ABCB) Projected to Post Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is anticipated to issue its results after the market closes on Thursday, January 29th. Analysts expect the company to announce earnings of $1.56 per share and revenue of $310.4840 million for the quarter.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $82.08 on Thursday. The company has a market cap of $5.61 billion, a PE ratio of 15.75 and a beta of 0.99. The firm has a 50-day moving average of $76.50 and a 200-day moving average of $73.21. Ameris Bancorp has a one year low of $48.27 and a one year high of $82.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp announced that its board has initiated a share buyback plan on Monday, October 20th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 13.84%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABCB. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. DA Davidson initiated coverage on shares of Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 price objective for the company. Piper Sandler set a $84.00 price objective on shares of Ameris Bancorp in a report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $80.00 price objective (up from $73.00) on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Finally, Truist Financial set a $83.00 target price on shares of Ameris Bancorp in a research note on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

Hedge Funds Weigh In On Ameris Bancorp

Several institutional investors and hedge funds have recently modified their holdings of ABCB. Brevan Howard Capital Management LP raised its holdings in Ameris Bancorp by 122.3% in the 2nd quarter. Brevan Howard Capital Management LP now owns 13,879 shares of the bank’s stock valued at $898,000 after acquiring an additional 7,637 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Ameris Bancorp during the 2nd quarter worth $554,000. Mendon Capital Advisors Corp increased its position in shares of Ameris Bancorp by 4.0% in the second quarter. Mendon Capital Advisors Corp now owns 13,000 shares of the bank’s stock worth $841,000 after purchasing an additional 500 shares during the period. WINTON GROUP Ltd acquired a new position in Ameris Bancorp in the second quarter valued at about $570,000. Finally, NewEdge Advisors LLC raised its stake in Ameris Bancorp by 36.7% in the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after purchasing an additional 3,129 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.