Equities research analysts expect Ameris Bancorp (NASDAQ:ABCB) to post sales of $97.92 million for the current quarter, Zacks reports. Two analysts have made estimates for Ameris Bancorp’s earnings, with the highest sales estimate coming in at $98.64 million and the lowest estimate coming in at $97.20 million. Ameris Bancorp posted sales of $81.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.1%. The firm is scheduled to issue its next quarterly earnings report on Friday, January 19th.

According to Zacks, analysts expect that Ameris Bancorp will report full-year sales of $97.92 million for the current financial year, with estimates ranging from $373.60 million to $375.00 million. For the next fiscal year, analysts forecast that the company will report sales of $432.10 million per share, with estimates ranging from $426.90 million to $437.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $93.85 million during the quarter, compared to analyst estimates of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%.

ABCB has been the subject of several research reports. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Piper Jaffray Companies set a $48.00 price target on shares of Ameris Bancorp and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Stephens reiterated a “buy” rating and issued a $54.00 price target on shares of Ameris Bancorp in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.25.

In other news, Director Leo J. Hill acquired 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were bought at an average cost of $42.75 per share, with a total value of $42,750.00. Following the purchase, the director now owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.63% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ABCB. UBS Asset Management Americas Inc. increased its stake in Ameris Bancorp by 241.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,909 shares of the bank’s stock valued at $872,000 after buying an additional 13,365 shares during the period. Parametric Portfolio Associates LLC increased its stake in Ameris Bancorp by 154.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 40,344 shares of the bank’s stock valued at $1,860,000 after buying an additional 24,460 shares during the period. Victory Capital Management Inc. increased its stake in Ameris Bancorp by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Ameris Bancorp by 1.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock valued at $368,000 after buying an additional 140 shares during the period. Finally, OppenheimerFunds Inc. acquired a new position in Ameris Bancorp in the 1st quarter valued at $279,000. 82.66% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/27/97-92-million-in-sales-expected-for-ameris-bancorp-abcb-this-quarter.html.

Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 49.05 on Friday. The stock has a 50 day moving average of $46.77 and a 200-day moving average of $46.13. Ameris Bancorp has a 1-year low of $35.15 and a 1-year high of $51.28. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 21.07 and a beta of 1.30.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 0.82%. Ameris Bancorp’s dividend payout ratio is currently 17.62%.

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.

Get a free copy of the Zacks research report on Ameris Bancorp (ABCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.