Wall Street brokerages expect Ameris Bancorp (NASDAQ:ABCB) to announce earnings of $0.92 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Ameris Bancorp’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.91. Ameris Bancorp posted earnings per share of $0.73 during the same quarter last year, which would suggest a positive year-over-year growth rate of 26%. The firm is expected to issue its next earnings report on Friday, April 19th.
On average, analysts expect that Ameris Bancorp will report full year earnings of $4.11 per share for the current fiscal year, with EPS estimates ranging from $4.05 to $4.16. For the next financial year, analysts anticipate that the firm will report earnings of $4.79 per share, with EPS estimates ranging from $4.75 to $4.81. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Ameris Bancorp.
Get Ameris Bancorp alerts:
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, January 25th. The bank reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. Ameris Bancorp had a net margin of 22.76% and a return on equity of 11.46%. The business had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $130.93 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis.
Several brokerages recently commented on ABCB. Zacks Investment Research cut shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Stephens restated a “buy” rating and set a $58.00 target price on shares of Ameris Bancorp in a report on Monday, January 28th. TheStreet cut shares of Ameris Bancorp from a “b-” rating to a “c+” rating in a report on Monday, December 24th. BidaskClub upgraded shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.67.
Shares of ABCB opened at $37.65 on Friday. Ameris Bancorp has a 12 month low of $29.97 and a 12 month high of $59.05. The firm has a market cap of $1.80 billion, a P/E ratio of 11.14 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.17.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Shareholders of record on Monday, December 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, December 28th. Ameris Bancorp’s dividend payout ratio is currently 11.83%.
A number of hedge funds have recently made changes to their positions in ABCB. Raymond James & Associates acquired a new stake in Ameris Bancorp in the second quarter valued at $298,000. Bank of America Corp DE lifted its stake in Ameris Bancorp by 16.5% in the second quarter. Bank of America Corp DE now owns 140,563 shares of the bank’s stock valued at $7,499,000 after acquiring an additional 19,927 shares during the last quarter. California Public Employees Retirement System lifted its stake in Ameris Bancorp by 69.0% in the second quarter. California Public Employees Retirement System now owns 65,130 shares of the bank’s stock valued at $3,475,000 after acquiring an additional 26,595 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Ameris Bancorp by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock valued at $42,901,000 after acquiring an additional 15,052 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Ameris Bancorp by 12.1% in the second quarter. Northern Trust Corp now owns 512,879 shares of the bank’s stock valued at $27,362,000 after acquiring an additional 55,212 shares during the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.
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.
See Also: How Investors Use a Balance Sheet
Get a free copy of the Zacks research report on Ameris Bancorp (ABCB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com