FIG Partners Comments on Ameris Bancorp’s FY2017 Earnings (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Stock analysts at FIG Partners dropped their FY2017 earnings per share (EPS) estimates for Ameris Bancorp in a research report issued on Tuesday. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings per share of $2.51 for the year, down from their prior estimate of $2.53.
A number of other brokerages also recently commented on ABCB. Keefe, Bruyette & Woods restated a “hold” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday. Stephens restated a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday, September 28th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $47.50 price objective on shares of Ameris Bancorp in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Ameris Bancorp currently has a consensus rating of “Hold” and a consensus target price of $52.25.
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Ameris Bancorp (NASDAQ:ABCB) opened at 48.80 on Thursday. Ameris Bancorp has a 52-week low of $35.15 and a 52-week high of $51.28. The company has a 50-day moving average of $46.77 and a 200-day moving average of $46.13. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 20.96 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The firm had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million.
Large investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in shares of Ameris Bancorp by 4.6% in the second quarter. Voya Investment Management LLC now owns 26,905 shares of the bank’s stock worth $1,297,000 after purchasing an additional 1,188 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Ameris Bancorp by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock worth $368,000 after purchasing an additional 140 shares in the last quarter. BlackRock Inc. grew its stake in shares of Ameris Bancorp by 83,097.4% in the first quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock worth $215,205,000 after purchasing an additional 4,662,595 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Ameris Bancorp by 13.3% in the first quarter. Legal & General Group Plc now owns 65,071 shares of the bank’s stock worth $2,999,000 after purchasing an additional 7,615 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Ameris Bancorp by 32.0% in the second quarter. Fisher Asset Management LLC now owns 109,112 shares of the bank’s stock worth $5,259,000 after purchasing an additional 26,443 shares in the last quarter. 82.66% of the stock is owned by institutional investors.
In other Ameris Bancorp news, Director Leo J. Hill purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $42.75 per share, with a total value of $42,750.00. Following the completion of the purchase, the director now owns 16,629 shares in the company, valued at approximately $710,889.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.63% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. Ameris Bancorp’s payout ratio is 17.62%.
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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