Ameris Bancorp (NASDAQ:ABCB – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06), Briefing.com reports. The business had revenue of $317.78 million during the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same period in the prior year, the firm earned $1.59 earnings per share.
Ameris Bancorp Stock Down 0.9%
Shares of NASDAQ:ABCB opened at $89.03 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 17.09 and a beta of 0.91. The company has a 50 day moving average of $87.67 and a 200-day moving average of $83.24. Ameris Bancorp has a one year low of $64.64 and a one year high of $93.22.
Ameris Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio is currently 12.58%.
Hedge Funds Weigh In On Ameris Bancorp
Wall Street Analysts Forecast Growth
ABCB has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler lowered shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research report on Sunday, July 12th. Stephens increased their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Finally, Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.67.
Get Our Latest Analysis on Ameris Bancorp
About Ameris Bancorp
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.
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