SunTrust Banks Weighs in on Ameris Bancorp’s Q3 2017 Earnings (NASDAQ:ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Investment analysts at SunTrust Banks reduced their Q3 2017 earnings per share (EPS) estimates for Ameris Bancorp in a note issued to investors on Tuesday. SunTrust Banks analyst J. Demba now forecasts that the bank will earn $0.67 per share for the quarter, down from their previous forecast of $0.70. SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for Ameris Bancorp’s FY2017 earnings at $2.55 EPS and Q2 2018 earnings at $0.78 EPS.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 price target on shares of Ameris Bancorp in a report on Wednesday, April 5th. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Stephens reiterated a “buy” rating and issued a $52.00 price target on shares of Ameris Bancorp in a report on Friday, April 21st. Finally, ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.33.
TRADEMARK VIOLATION WARNING: This report was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/08/suntrust-banks-weighs-in-on-ameris-bancorps-q3-2017-earnings-nasdaqabcb-updated.html.
Ameris Bancorp (ABCB) opened at 46.15 on Wednesday. The stock has a market cap of $1.72 billion, a PE ratio of 19.82 and a beta of 1.28. Ameris Bancorp has a 12-month low of $32.35 and a 12-month high of $51.28. The firm has a 50 day moving average of $47.52 and a 200-day moving average of $46.09.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.40 annualized dividend and a yield of 0.87%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 17.09%.
In other Ameris Bancorp news, COO Dennis J. Zember, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $47.38, for a total transaction of $710,700.00. Following the completion of the transaction, the chief operating officer now directly owns 148,727 shares in the company, valued at approximately $7,046,685.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cindi H. Lewis sold 3,200 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $147,200.00. Following the transaction, the chief accounting officer now owns 70,578 shares of the company’s stock, valued at $3,246,588. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,860 shares of company stock valued at $84,541 and have sold 78,474 shares valued at $3,691,854. Company insiders own 3.63% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its position in Ameris Bancorp by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,898 shares of the bank’s stock valued at $650,000 after buying an additional 200 shares during the period. GSA Capital Partners LLP acquired a new position in Ameris Bancorp during the fourth quarter valued at $279,000. Two Sigma Investments LP acquired a new position in Ameris Bancorp during the fourth quarter valued at $781,000. AQR Capital Management LLC increased its position in Ameris Bancorp by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 41,669 shares of the bank’s stock valued at $1,817,000 after buying an additional 2,745 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Ameris Bancorp by 56.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 11,300 shares of the bank’s stock valued at $493,000 after buying an additional 4,100 shares during the period. Hedge funds and other institutional investors own 84.23% of the company’s stock.
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.
Receive News & Stock Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related stocks with our FREE daily email newsletter.