$97.92 Million in Sales Expected for Ameris Bancorp (ABCB) This Quarter
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.
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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.
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