Ameris Bancorp (ABCB) Announces Quarterly Earnings Results
Ameris Bancorp (NASDAQ:ABCB) released its quarterly earnings results on Thursday. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02), Bloomberg Earnings reports. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down 2.12% on Thursday, hitting $48.40. 63,374 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $46.24 and its 200 day moving average is $46.01. Ameris Bancorp has a 12 month low of $35.15 and a 12 month high of $51.28. The firm has a market cap of $1.80 billion, a P/E ratio of 20.79 and a beta of 1.30.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. Ameris Bancorp’s payout ratio is presently 17.09%.
In other Ameris Bancorp news, Director Leo J. Hill purchased 1,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $42.75 per share, with a total value of $42,750.00. Following the completion of the transaction, the director now directly owns 16,629 shares in the company, valued at approximately $710,889.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.63% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Stephens restated a “buy” rating and set a $54.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $51.50.
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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