Brokerages Anticipate Ameris Bancorp (ABCB) Will Post Quarterly Sales of $100.49 Million

Analysts forecast that Ameris Bancorp (NASDAQ:ABCB) will report sales of $100.49 million for the current quarter, according to Zacks. Two analysts have provided estimates for Ameris Bancorp’s earnings, with estimates ranging from $99.48 million to $101.50 million. Ameris Bancorp posted sales of $86.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is scheduled to issue its next earnings results on Friday, April 20th.

According to Zacks, analysts expect that Ameris Bancorp will report full-year sales of $100.49 million for the current fiscal year, with estimates ranging from $445.00 million to $484.80 million. For the next financial year, analysts expect that the business will report sales of $553.00 million per share, with estimates ranging from $505.10 million to $600.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $96.28 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis.

Several brokerages have weighed in on ABCB. Sandler O’Neill set a $57.00 price target on shares of Ameris Bancorp and gave the company a “hold” rating in a report on Monday, January 29th. SunTrust Banks lifted their price target on shares of Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 29th. BidaskClub raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.33.

Ameris Bancorp (NASDAQ:ABCB) opened at $52.70 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Ameris Bancorp has a 1-year low of $41.05 and a 1-year high of $56.85. The firm has a market cap of $1,962.08, a P/E ratio of 26.48 and a beta of 1.24.

In other news, COO Dennis J. Zember, Jr. sold 5,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $54.81, for a total value of $274,050.00. Following the transaction, the chief operating officer now owns 156,063 shares of the company’s stock, valued at $8,553,813.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James A. Lahaise sold 14,200 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total transaction of $661,436.00. Following the completion of the transaction, the insider now directly owns 73,986 shares in the company, valued at approximately $3,446,267.88. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ABCB. Bank of Montreal Can lifted its holdings in shares of Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after buying an additional 1,002 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Ameris Bancorp by 8.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after buying an additional 248 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Ameris Bancorp in the third quarter worth $204,000. Flinton Capital Management LLC raised its stake in Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after purchasing an additional 2,142 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Ameris Bancorp by 4.0% during the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock valued at $228,000 after purchasing an additional 183 shares in the last quarter. 83.28% of the stock is currently owned by hedge funds and other institutional investors.

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Ameris Bancorp Company Profile

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

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