Ameris Bancorp (ABCB) to Release Quarterly Earnings on Thursday

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

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $80.33 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $77.06 and its 200-day simple moving average is $73.54. The company has a market cap of $5.49 billion, a PE ratio of 15.42 and a beta of 0.99. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $83.64.

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

Ameris Bancorp Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of Ameris Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in Ameris Bancorp in the third quarter valued at approximately $45,000. Danske Bank A S acquired a new stake in shares of Ameris Bancorp in the third quarter valued at $51,000. EverSource Wealth Advisors LLC lifted its stake in Ameris Bancorp by 432.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock worth $111,000 after acquiring an additional 1,394 shares in the last quarter. Focus Partners Wealth acquired a new position in Ameris Bancorp during the 3rd quarter worth about $177,000. Finally, United Services Automobile Association purchased a new position in Ameris Bancorp during the 1st quarter valued at about $243,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.