Ameris Bancorp (ABCB) Scheduled to Post Quarterly Earnings on Monday
Ameris Bancorp (NASDAQ:ABCB) is scheduled to announce its Q316 earnings results on Monday, October 17th. Analysts expect the company to announce earnings of $0.59 per share and revenue of $85.80 million for the quarter.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, July 22nd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. On average, analysts expect Ameris Bancorp to post $2.12 EPS for the current fiscal year and $2.52 EPS for the next fiscal year.
Ameris Bancorp (NASDAQ:ABCB) opened at 35.90 on Thursday. The stock has a market cap of $1.25 billion, a P/E ratio of 19.27 and a beta of 1.33. Ameris Bancorp has a 52 week low of $24.96 and a 52 week high of $36.31. The firm has a 50-day moving average price of $35.15 and a 200-day moving average price of $32.06.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were given a $0.10 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. Ameris Bancorp’s payout ratio is currently 21.62%.
Several large investors have recently modified their holdings of ABCB. Maltese Capital Management LLC boosted its stake in shares of Ameris Bancorp by 8.8% in the second quarter. Maltese Capital Management LLC now owns 518,400 shares of the company’s stock worth $15,396,000 after buying an additional 42,061 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Ameris Bancorp by 11.3% in the second quarter. Teachers Advisors Inc. now owns 77,263 shares of the company’s stock worth $2,295,000 after buying an additional 7,855 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Ameris Bancorp by 23.6% in the second quarter. TIAA CREF Investment Management LLC now owns 173,711 shares of the company’s stock worth $5,159,000 after buying an additional 33,173 shares in the last quarter. American International Group Inc. boosted its stake in shares of Ameris Bancorp by 1.9% in the second quarter. American International Group Inc. now owns 24,297 shares of the company’s stock worth $722,000 after buying an additional 460 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Ameris Bancorp by 2.6% in the second quarter. Janney Montgomery Scott LLC now owns 44,361 shares of the company’s stock worth $1,508,000 after buying an additional 1,105 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.
A number of research firms recently commented on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, July 26th. Sandler O’Neill cut Ameris Bancorp from a “buy” rating to a “hold” rating and lifted their price target for the stock from $36.00 to $38.00 in a report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.30.
About Ameris Bancorp
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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