Ameris Bancorp (ABCB) Projected to Post Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is expected to be issuing its results after the market closes on Thursday, July 23rd. Analysts expect Ameris Bancorp to post earnings of $1.66 per share and revenue of $323.7840 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $314.36 million for the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the prior year, the firm earned $1.28 earnings per share. 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 Up 0.7%

ABCB opened at $90.70 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $86.93 and its two-hundred day moving average is $82.57. The company has a market capitalization of $6.10 billion, a P/E ratio of 17.41 and a beta of 0.91. Ameris Bancorp has a 52 week low of $64.64 and a 52 week high of $92.43.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio is presently 12.58%.

Hedge Funds Weigh In On Ameris Bancorp

Hedge funds have recently modified their holdings of the stock. North Reef Capital Management LP lifted its stake in shares of Ameris Bancorp by 38.2% during the fourth quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock worth $203,279,000 after buying an additional 755,967 shares during the period. Invesco Ltd. grew its holdings in shares of Ameris Bancorp by 134.7% during the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock valued at $68,318,000 after buying an additional 534,830 shares during the last quarter. Morgan Stanley increased its position in shares of Ameris Bancorp by 64.5% in the 4th quarter. Morgan Stanley now owns 869,711 shares of the bank’s stock valued at $64,594,000 after acquiring an additional 341,108 shares during the period. Millennium Management LLC raised its stake in Ameris Bancorp by 97.2% in the 3rd quarter. Millennium Management LLC now owns 670,312 shares of the bank’s stock worth $49,141,000 after acquiring an additional 330,427 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Ameris Bancorp in the 1st quarter worth $10,528,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABCB. Truist Financial raised their price target on Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, July 10th. DA Davidson upped their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Stephens increased their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Raymond James Financial cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Finally, Piper Sandler downgraded shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research report on Sunday. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ameris Bancorp has a consensus rating of “Hold” and a consensus price target of $92.67.

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.