FY2017 EPS Estimates for Ameris Bancorp (ABCB) Reduced by SunTrust Banks
Ameris Bancorp (NASDAQ:ABCB) – Equities research analysts at SunTrust Banks dropped their FY2017 earnings per share (EPS) estimates for Ameris Bancorp in a research note issued on Monday. SunTrust Banks analyst J. Demba now expects that the bank will earn $2.46 per share for the year, down from their previous estimate of $2.47. SunTrust Banks also issued estimates for Ameris Bancorp’s Q4 2017 earnings at $0.61 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.18 EPS and FY2019 earnings at $3.80 EPS.
A number of other brokerages have also recently issued reports on ABCB. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, October 26th. Piper Jaffray Companies set a $48.00 target price on shares of Ameris Bancorp and gave the company a “hold” rating in a research report on Friday, October 6th. BidaskClub cut shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, ValuEngine cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One investment 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. The company has a consensus rating of “Hold” and a consensus price target of $52.25.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The company had revenue of $93.85 million during the quarter, compared to analyst estimates of $96.89 million.
In other Ameris Bancorp news, Director Leo J. Hill bought 1,000 shares of Ameris Bancorp stock in a transaction dated Thursday, September 7th. The stock was 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 owns 16,629 shares in the company, valued at approximately $710,889.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.63% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in Ameris Bancorp by 8.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after purchasing an additional 248 shares during the period. Riverhead Capital Management LLC lifted its position in Ameris Bancorp by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock worth $159,000 after purchasing an additional 1,797 shares during the period. Victory Capital Management Inc. lifted its position in Ameris Bancorp by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,125 shares of the bank’s stock worth $199,000 after purchasing an additional 619 shares during the period. Aperio Group LLC bought a new stake in Ameris Bancorp during the third quarter worth about $204,000. Finally, Flinton Capital Management LLC lifted its position in Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock worth $205,000 after purchasing an additional 2,142 shares during the period. 82.71% of the stock is 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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