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, July 23rd. Analysts expect the company to announce earnings of $1.66 per share and revenue of $323.7840 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $314.36 million during the quarter, compared to analyst estimates of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the previous year, the company earned $1.28 EPS. 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 Trading Down 0.3%

Shares of NASDAQ ABCB opened at $90.53 on Wednesday. The business has a 50 day simple moving average of $87.43 and a 200 day simple moving average of $83.03. Ameris Bancorp has a 52 week low of $64.64 and a 52 week high of $93.22. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 17.38 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s payout ratio is currently 12.58%.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds have recently bought and sold shares of the company. Inspire Investing LLC grew its position in Ameris Bancorp by 2.0% during the fourth quarter. Inspire Investing LLC now owns 6,308 shares of the bank’s stock worth $468,000 after buying an additional 125 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Ameris Bancorp by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank’s stock valued at $696,000 after acquiring an additional 133 shares during the period. HighTower Advisors LLC increased its stake in Ameris Bancorp by 1.6% during the fourth quarter. HighTower Advisors LLC now owns 9,054 shares of the bank’s stock valued at $672,000 after acquiring an additional 143 shares during the period. Lido Advisors LLC raised its holdings in Ameris Bancorp by 2.6% in the 4th quarter. Lido Advisors LLC now owns 6,456 shares of the bank’s stock valued at $476,000 after acquiring an additional 162 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Ameris Bancorp by 1.2% in the 2nd quarter. Cerity Partners LLC now owns 18,469 shares of the bank’s stock valued at $1,195,000 after acquiring an additional 218 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABCB has been the topic of a number of recent research reports. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Truist Financial increased their target price on shares of Ameris Bancorp from $89.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Piper Sandler downgraded Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 price target for the company. in a research note on Sunday, July 12th. Finally, DA Davidson raised their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp presently has an average rating of “Hold” and an average target price of $92.67.

About Ameris Bancorp

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.