Wall Street brokerages forecast that Ameris Bancorp (NASDAQ:ABCB) will post $136.18 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ameris Bancorp’s earnings, with the highest sales estimate coming in at $138.40 million and the lowest estimate coming in at $134.70 million. Ameris Bancorp reported sales of $107.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.9%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, July 26th.
On average, analysts expect that Ameris Bancorp will report full-year sales of $695.13 million for the current financial year, with estimates ranging from $682.00 million to $701.00 million. For the next financial year, analysts anticipate that the business will report sales of $877.73 million, with estimates ranging from $840.20 million to $910.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. The firm’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 earnings per share.
ABCB has been the subject of a number of recent analyst reports. TheStreet downgraded VOXX International from a “c-” rating to a “d” rating in a research report on Wednesday, June 19th. Stephens set a $112.00 price objective on Genesee & Wyoming and gave the stock a “hold” rating in a research report on Monday, July 1st. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, July 8th. Finally, Raymond James reissued a “hold” rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.71.
Shares of NASDAQ:ABCB traded up $0.15 during midday trading on Friday, reaching $37.78. 349,430 shares of the company’s stock were exchanged, compared to its average volume of 754,541. The stock has a 50 day moving average price of $37.99. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.80 billion, a PE ratio of 11.18 and a beta of 1.45. Ameris Bancorp has a fifty-two week low of $29.97 and a fifty-two week high of $52.47.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, June 27th. Ameris Bancorp’s dividend payout ratio is currently 11.83%.
In other news, Director Elizabeth A. Mccague bought 800 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $37.50 per share, with a total value of $30,000.00. Following the transaction, the director now directly owns 7,692 shares in the company, valued at approximately $288,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its stake in shares of Ameris Bancorp by 51.8% during the 4th quarter. Prudential Financial Inc. now owns 101,806 shares of the bank’s stock valued at $3,225,000 after buying an additional 34,723 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Ameris Bancorp by 10.3% during the 4th quarter. LPL Financial LLC now owns 10,427 shares of the bank’s stock valued at $330,000 after buying an additional 976 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Ameris Bancorp by 2.5% during the 4th quarter. BlackRock Inc. now owns 6,039,221 shares of the bank’s stock valued at $191,263,000 after buying an additional 147,175 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ameris Bancorp by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 831,035 shares of the bank’s stock valued at $26,318,000 after buying an additional 50,838 shares in the last quarter. Finally, Texas Permanent School Fund lifted its stake in shares of Ameris Bancorp by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 26,111 shares of the bank’s stock valued at $827,000 after buying an additional 996 shares in the last quarter. 87.00% of the stock is owned by institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
Featured Article: How Do Mutual Funds Work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.