Ameris Bancorp (ABCB) Expected to Post Earnings of $0.87 Per Share

Analysts expect Ameris Bancorp (NASDAQ:ABCB) to announce $0.87 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ameris Bancorp’s earnings, with estimates ranging from $0.84 to $0.88. Ameris Bancorp posted earnings of $0.63 per share in the same quarter last year, which suggests a positive year over year growth rate of 38.1%. The company is scheduled to report its next earnings report on Friday, July 20th.

On average, analysts expect that Ameris Bancorp will report full year earnings of $3.50 per share for the current year, with EPS estimates ranging from $3.40 to $3.62. For the next fiscal year, analysts anticipate that the company will report earnings of $4.29 per share, with EPS estimates ranging from $4.20 to $4.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Ameris Bancorp.

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Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, April 20th. The bank reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.05). Ameris Bancorp had a net margin of 19.19% and a return on equity of 12.09%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $100.49 million.

Several analysts have issued reports on ABCB shares. SunTrust Banks upped 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. Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. BidaskClub raised shares of Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.00.

In related news, CEO Edwin W. Hortman, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $53.58, for a total transaction of $535,800.00. Following the completion of the transaction, the chief executive officer now owns 256,961 shares of the company’s stock, valued at $13,767,970.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Dennis J. Zember, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total transaction of $274,050.00. Following the transaction, the chief operating officer now directly owns 156,063 shares of the company’s stock, valued at approximately $8,553,813.03. The disclosure for this sale can be found here. Insiders have sold 46,159 shares of company stock worth $2,575,646 in the last three months. Insiders own 3.07% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in Ameris Bancorp during the fourth quarter worth approximately $1,222,000. Allianz Asset Management GmbH increased its position in Ameris Bancorp by 6.0% during the fourth quarter. Allianz Asset Management GmbH now owns 271,566 shares of the bank’s stock worth $13,090,000 after purchasing an additional 15,283 shares during the last quarter. Aperio Group LLC increased its position in Ameris Bancorp by 145.0% during the fourth quarter. Aperio Group LLC now owns 10,436 shares of the bank’s stock worth $503,000 after purchasing an additional 6,177 shares during the last quarter. Swiss National Bank increased its position in Ameris Bancorp by 4.2% during the fourth quarter. Swiss National Bank now owns 64,764 shares of the bank’s stock worth $3,122,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Ameris Bancorp by 3.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,218 shares of the bank’s stock worth $8,928,000 after purchasing an additional 6,235 shares during the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ABCB traded up $0.20 on Wednesday, hitting $52.65. The company’s stock had a trading volume of 151,556 shares, compared to its average volume of 231,731. Ameris Bancorp has a 12-month low of $41.05 and a 12-month high of $59.05. The company has a market capitalization of $1,996.66, a PE ratio of 21.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.02 and a quick ratio of 1.00.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Friday, March 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Wednesday, March 28th. Ameris Bancorp’s payout ratio is 16.13%.

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About Ameris Bancorp

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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

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