Q1 2019 EPS Estimates for Ameris Bancorp Increased by SunTrust Banks (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Investment analysts at SunTrust Banks raised their Q1 2019 earnings estimates for Ameris Bancorp in a note issued to investors on Thursday, September 20th. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings of $1.02 per share for the quarter, up from their prior forecast of $1.00. SunTrust Banks has a “Hold” rating and a $60.00 price objective on the stock. SunTrust Banks also issued estimates for Ameris Bancorp’s Q4 2019 earnings at $1.11 EPS and FY2019 earnings at $4.30 EPS.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 27th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.10). Ameris Bancorp had a net margin of 15.07% and a return on equity of 10.84%. The company had revenue of $107.31 million during the quarter, compared to analyst estimates of $108.92 million.
Shares of NASDAQ ABCB opened at $47.45 on Monday. Ameris Bancorp has a 12-month low of $44.75 and a 12-month high of $59.05. The firm has a market capitalization of $2.30 billion, a P/E ratio of 19.13 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.01.
A number of large investors have recently bought and sold shares of ABCB. SG Americas Securities LLC purchased a new position in Ameris Bancorp in the 1st quarter valued at about $124,000. SeaCrest Wealth Management LLC bought a new position in shares of Ameris Bancorp during the second quarter worth about $163,000. Kovack Advisors Inc. bought a new position in shares of Ameris Bancorp during the first quarter worth about $203,000. LPL Financial LLC bought a new position in shares of Ameris Bancorp during the first quarter worth about $279,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Ameris Bancorp during the first quarter worth about $295,000. 78.39% of the stock is owned by institutional investors.
In other news, Director Leo J. Hill acquired 2,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $48.38 per share, with a total value of $96,760.00. Following the transaction, the director now directly owns 18,984 shares in the company, valued at approximately $918,445.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth A. Mccague acquired 1,000 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was purchased at an average cost of $50.05 per share, with a total value of $50,050.00. Following the completion of the transaction, the director now owns 5,226 shares in the company, valued at $261,561.30. The disclosure for this purchase can be found here. Corporate insiders own 3.07% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Ameris Bancorp’s payout ratio is currently 16.13%.
About Ameris Bancorp
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.
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