Ameris Bancorp (NASDAQ:ABCB) to Release Earnings on Friday
Ameris Bancorp (NASDAQ:ABCB) is scheduled to be releasing its earnings data before the market opens on Friday, July 21st. Analysts expect Ameris Bancorp to post earnings of $0.64 per share for the quarter.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, April 21st. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $86.30 million during the quarter, compared to analyst estimates of $86.84 million. Ameris Bancorp had a return on equity of 12.74% and a net margin of 22.56%. On average, analysts expect Ameris Bancorp to post $2.60 EPS for the current fiscal year and $3.23 EPS for the next fiscal year.
Ameris Bancorp (NASDAQ:ABCB) opened at 47.25 on Friday. Ameris Bancorp has a 12 month low of $29.47 and a 12 month high of $49.80. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 20.62 and a beta of 1.28. The firm’s 50-day moving average price is $45.88 and its 200 day moving average price is $45.69.
The company also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Ameris Bancorp’s dividend payout ratio is 17.47%.
In related news, Director Elizabeth A. Mccague acquired 1,060 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $47.00 per share, for a total transaction of $49,820.00. Following the purchase, the director now directly owns 2,180 shares of the company’s stock, valued at approximately $102,460. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Dennis J. Zember, Jr. sold 15,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $47.38, for a total value of $710,700.00. Following the sale, the chief operating officer now owns 148,727 shares of the company’s stock, valued at $7,046,685.26. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,860 shares of company stock valued at $84,541 and sold 78,474 shares valued at $3,691,854. 3.63% of the stock is currently owned by corporate insiders.
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Several brokerages have weighed in on ABCB. BidaskClub upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. SunTrust Banks, Inc. upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, April 26th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 target price on shares of Ameris Bancorp in a report on Monday, June 26th. Finally, Stephens reiterated a “buy” rating and issued a $52.00 target price on shares of Ameris Bancorp in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.20.
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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