Ameris Bancorp (ABCB) Set to Announce Earnings on Monday
Ameris Bancorp (NASDAQ:ABCB) is scheduled to post its Q316 quarterly earnings results on Monday, October 17th. Analysts expect Ameris Bancorp to post earnings of $0.59 per share and revenue of $85.80 million for the quarter.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. On average, analysts expect Ameris Bancorp to post $2.12 EPS for the current fiscal year and $2.52 EPS for the next fiscal year.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 35.21 on Friday. Ameris Bancorp has a 52-week low of $24.96 and a 52-week high of $36.31. The firm’s 50-day moving average price is $35.19 and its 200 day moving average price is $32.09. The company has a market capitalization of $1.23 billion, a PE ratio of 18.90 and a beta of 1.33.
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were given a $0.10 dividend. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio is 21.62%.
ABCB has been the topic of a number of recent analyst reports. Sandler O’Neill lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating and increased their price objective for the stock from $36.00 to $38.00 in a research report on Tuesday, September 27th. Zacks Investment Research lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, July 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ameris Bancorp currently has an average rating of “Hold” and an average target price of $34.30.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Ameris Bancorp by 95.9% in the second quarter. BlackRock Inc. now owns 4,042 shares of the company’s stock valued at $121,000 after buying an additional 1,979 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Ameris Bancorp by 12.7% in the second quarter. Parametric Portfolio Associates LLC now owns 11,969 shares of the company’s stock valued at $355,000 after buying an additional 1,351 shares in the last quarter. Arizona State Retirement System raised its stake in Ameris Bancorp by 2.1% in the second quarter. Arizona State Retirement System now owns 14,500 shares of the company’s stock valued at $431,000 after buying an additional 300 shares in the last quarter. BlackRock Advisors LLC raised its stake in Ameris Bancorp by 7.5% in the second quarter. BlackRock Advisors LLC now owns 15,450 shares of the company’s stock valued at $459,000 after buying an additional 1,078 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in Ameris Bancorp during the second quarter valued at approximately $506,000. Institutional investors own 80.12% of the company’s stock.
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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