Ameris Bancorp (ABCB) Forecasted to Post FY2017 Earnings of $2.46 Per Share
Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at SunTrust Banks decreased their FY2017 earnings estimates for shares of Ameris Bancorp in a research report issued to clients and investors on Monday. SunTrust Banks analyst J. Demba now anticipates that the bank will earn $2.46 per share for the year, down from their previous forecast of $2.47. SunTrust Banks also issued estimates for Ameris Bancorp’s Q4 2017 earnings at $0.61 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.18 EPS and FY2019 earnings at $3.80 EPS.
A number of other analysts have also recently weighed in on ABCB. Keefe, Bruyette & Woods raised Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday. BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, September 28th. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Ameris Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.25.
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Shares of Ameris Bancorp (NASDAQ:ABCB) opened at $48.90 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04. The firm has a market capitalization of $1,822.46, a price-to-earnings ratio of 19.74 and a beta of 1.19. Ameris Bancorp has a 52-week low of $41.05 and a 52-week high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ameris Bancorp by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock valued at $124,784,000 after purchasing an additional 65,815 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Ameris Bancorp by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,559,197 shares of the bank’s stock worth $75,154,000 after buying an additional 25,010 shares during the last quarter. State Street Corp increased its holdings in Ameris Bancorp by 7.3% during the second quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock worth $60,687,000 after buying an additional 85,137 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ameris Bancorp by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock worth $58,686,000 after buying an additional 20,713 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in Ameris Bancorp by 10.6% during the second quarter. Kennedy Capital Management Inc. now owns 609,227 shares of the bank’s stock worth $29,365,000 after buying an additional 58,456 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.
In other Ameris Bancorp news, Director Leo J. Hill acquired 1,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the acquisition, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.63% of the stock is owned by company insiders.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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