Ameris Bancorp (ABCB) Expected to Announce Earnings of $0.69 Per Share
Equities analysts expect Ameris Bancorp (NASDAQ:ABCB) to announce earnings of $0.69 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Ameris Bancorp’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.66. Ameris Bancorp posted earnings of $0.61 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 13.1%. The business is scheduled to announce its next quarterly earnings report on Friday, July 21st.
On average, analysts expect that Ameris Bancorp will report full-year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.54 to $2.62. For the next fiscal year, analysts forecast that the business will report earnings of $3.19 per share, with EPS estimates ranging from $3.10 to $3.25. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $91.35 million for the quarter, compared to the consensus estimate of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%.
Several research firms recently commented on ABCB. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. SunTrust Banks, Inc. raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, April 26th. Stephens reaffirmed a “buy” rating and issued a $54.00 price target on shares of Ameris Bancorp in a research note on Friday. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 price target on shares of Ameris Bancorp in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $49.33.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.32% during midday trading on Monday, hitting $47.10. 254,661 shares of the stock were exchanged. Ameris Bancorp has a 12 month low of $30.79 and a 12 month high of $51.28. The stock has a market cap of $1.75 billion, a P/E ratio of 20.23 and a beta of 1.28. The firm has a 50 day moving average of $47.16 and a 200-day moving average of $46.01.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Wednesday, June 28th. Ameris Bancorp’s dividend payout ratio (DPR) is 17.09%.
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In other Ameris Bancorp news, COO Dennis J. Zember, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $47.38, for a total transaction of $710,700.00. Following the transaction, the chief operating officer now owns 148,727 shares of the company’s stock, valued at approximately $7,046,685.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edwin W. Hortman, Jr. sold 14,578 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $47.37, for a total transaction of $690,559.86. Following the transaction, the chief executive officer now directly owns 234,664 shares in the company, valued at approximately $11,116,033.68. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,860 shares of company stock worth $84,541 and have sold 78,474 shares worth $3,691,854. Company insiders own 3.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its stake in Ameris Bancorp by 71.9% in the first quarter. Fisher Asset Management LLC now owns 82,669 shares of the bank’s stock worth $3,811,000 after buying an additional 34,578 shares in the last quarter. Mendon Capital Advisors Corp boosted its stake in Ameris Bancorp by 28.8% in the first quarter. Mendon Capital Advisors Corp now owns 515,030 shares of the bank’s stock worth $23,743,000 after buying an additional 115,030 shares in the last quarter. Bank of Montreal Can boosted its stake in Ameris Bancorp by 22.1% in the first quarter. Bank of Montreal Can now owns 56,194 shares of the bank’s stock worth $2,590,000 after buying an additional 10,174 shares in the last quarter. TNB Financial purchased a new stake in Ameris Bancorp during the first quarter worth $422,000. Finally, Macquarie Group Ltd. boosted its stake in Ameris Bancorp by 62.0% in the fourth quarter. Macquarie Group Ltd. now owns 39,306 shares of the bank’s stock worth $1,714,000 after buying an additional 15,044 shares in the last quarter. 84.23% of the stock is currently owned by institutional investors and hedge funds.
About Ameris Bancorp
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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