Equities Analysts Set Expectations for Ameris Bancorp’s FY2016 Earnings (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Equities research analysts at FIG Partners lifted their FY2016 earnings per share estimates for Ameris Bancorp in a research note issued on Monday. FIG Partners analyst C. Marinac now forecasts that the firm will post earnings of $2.30 per share for the year, up from their prior forecast of $2.25. FIG Partners also issued estimates for Ameris Bancorp’s Q4 2016 earnings at $0.62 EPS, Q2 2017 earnings at $0.63 EPS, Q3 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.70 EPS and FY2017 earnings at $2.60 EPS.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, July 26th. Sandler O’Neill downgraded Ameris Bancorp from a “buy” rating to a “hold” rating and increased their price objective for the company from $36.00 to $38.00 in a report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, July 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.30.
Ameris Bancorp (NASDAQ:ABCB) remained flat at $35.80 during midday trading on Tuesday. The stock had a trading volume of 72,046 shares. The company has a 50 day moving average of $35.29 and a 200-day moving average of $32.22. Ameris Bancorp has a 52-week low of $24.96 and a 52-week high of $36.31. The stock has a market cap of $1.25 billion, a P/E ratio of 19.22 and a beta of 1.33.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Monday, October 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCB. PineBridge Investments L.P. increased its position in Ameris Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,514 shares of the company’s stock worth $104,000 after buying an additional 116 shares in the last quarter. BlackRock Inc. increased its position in Ameris Bancorp by 95.9% in the second quarter. BlackRock Inc. now owns 4,042 shares of the company’s stock worth $121,000 after buying an additional 1,979 shares in the last quarter. Mason Street Advisors LLC purchased a new position in Ameris Bancorp during the second quarter worth about $162,000. Commerce Bank purchased a new position in Ameris Bancorp during the second quarter worth about $263,000. Finally, BNP Paribas Arbitrage SA increased its position in Ameris Bancorp by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,941 shares of the company’s stock worth $266,000 after buying an additional 4,940 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Wednesday, September 28th. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. Ameris Bancorp’s dividend payout ratio (DPR) is currently 21.62%.
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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