Ameris Bancorp (ABCB) Expected to Announce Quarterly Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is anticipated to announce its results after the market closes on Thursday, April 23rd. Analysts expect the company to announce earnings of $1.54 per share and revenue of $309.5760 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million during the quarter, compared to the consensus estimate of $310.48 million. During the same period last year, the business posted $1.38 EPS. On average, analysts expect Ameris Bancorp to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $84.39 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $79.63 and a two-hundred day moving average price of $77.50. Ameris Bancorp has a 1-year low of $52.66 and a 1-year high of $87.98. The company has a market cap of $5.76 billion, a P/E ratio of 16.20 and a beta of 0.93.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 13.33%.

Analyst Ratings Changes

A number of analysts have weighed in on ABCB shares. Truist Financial increased their price target on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Stephens increased their price target on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. DA Davidson set a $94.00 price target on Ameris Bancorp in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in ABCB. Royal Bank of Canada boosted its position in shares of Ameris Bancorp by 9.5% during the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after purchasing an additional 2,546 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ameris Bancorp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock worth $2,256,000 after purchasing an additional 1,703 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Ameris Bancorp by 36.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock worth $671,000 after purchasing an additional 3,129 shares in the last quarter. United Services Automobile Association bought a new position in shares of Ameris Bancorp during the 1st quarter worth about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameris Bancorp by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after purchasing an additional 13,633 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.