Ameris Bancorp (NASDAQ:ABCB) Releases Earnings Results, Beats Expectations By $0.09 EPS

Ameris Bancorp (NASDAQ:ABCB) issued its earnings results on Thursday. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09, Briefing.com reports. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the business earned $1.28 EPS.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded up $0.82 during midday trading on Thursday, hitting $84.67. The company had a trading volume of 923,539 shares, compared to its average volume of 560,660. Ameris Bancorp has a twelve month low of $55.21 and a twelve month high of $87.98. 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 $5.78 billion, a price-to-earnings ratio of 16.25 and a beta of 0.93. The business’s 50-day simple moving average is $79.63 and its 200-day simple moving average is $77.54.

Ameris Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABCB shares. 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 research report on Monday, February 2nd. Truist Financial raised their target price on Ameris Bancorp from $83.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 target price on Ameris Bancorp in a research report on Monday, February 2nd. Finally, Stephens raised their target price on Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.50.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP acquired a new stake in Ameris Bancorp during the second quarter worth $294,000. Cetera Investment Advisers increased its stake in Ameris Bancorp by 11.8% during the second quarter. Cetera Investment Advisers now owns 4,494 shares of the bank’s stock worth $291,000 after acquiring an additional 476 shares during the last quarter. Inceptionr LLC acquired a new stake in Ameris Bancorp during the fourth quarter worth $272,000. Coldstream Capital Management Inc. increased its stake in Ameris Bancorp by 6.9% during the third quarter. Coldstream Capital Management Inc. now owns 3,595 shares of the bank’s stock worth $264,000 after acquiring an additional 232 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Ameris Bancorp during the first quarter worth $243,000. Institutional investors and hedge funds 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.