FIG Partners Research Analysts Lift Earnings Estimates for Ameris Bancorp (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at FIG Partners lifted their FY2017 earnings per share estimates for shares of Ameris Bancorp in a research report issued to clients and investors on Tuesday. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings of $2.53 per share for the year, up from their prior estimate of $2.51.
Other research analysts have also recently issued research reports about the stock. Stephens reaffirmed a “buy” rating and issued a $54.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.50.
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Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 50.70 on Thursday. The firm has a 50-day moving average of $45.48 and a 200-day moving average of $45.86. Ameris Bancorp has a 52-week low of $35.01 and a 52-week high of $51.28. The company has a market cap of $1.88 billion, a P/E ratio of 21.78 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. The company had revenue of $91.35 million during the quarter, compared to the consensus estimate of $92.71 million.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.79%. Ameris Bancorp’s dividend payout ratio is currently 17.09%.
In other Ameris Bancorp news, Director Leo J. Hill acquired 1,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the purchase, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Ameris Bancorp in the first quarter worth $136,000. Riverhead Capital Management LLC increased its stake in shares of Ameris Bancorp by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock worth $159,000 after acquiring an additional 1,797 shares during the period. Victory Capital Management Inc. increased its stake in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock worth $162,000 after acquiring an additional 55 shares during the period. Flinton Capital Management LLC increased its stake in shares of Ameris Bancorp by 101.6% in the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock worth $205,000 after acquiring an additional 2,142 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Ameris Bancorp in the first quarter worth $210,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.
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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