Ameris Bancorp (ABCB) Projected to Announce Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is projected to release its results after the market closes on Thursday, July 23rd. Analysts expect the company to announce earnings of $1.66 per share and revenue of $323.7840 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $314.36 million during the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the previous year, the company posted $1.28 earnings per share. On average, analysts expect Ameris Bancorp to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $90.88 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 1 year low of $64.64 and a 1 year high of $93.22. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 17.44 and a beta of 0.91. The company’s 50 day simple moving average is $87.30 and its 200 day simple moving average is $82.92.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio is currently 12.58%.

Hedge Funds Weigh In On Ameris Bancorp

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in shares of Ameris Bancorp during the fourth quarter valued at about $319,000. Invesco Ltd. boosted its stake in Ameris Bancorp by 10.2% during the 4th quarter. Invesco Ltd. now owns 1,027,275 shares of the bank’s stock valued at $76,296,000 after purchasing an additional 95,364 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Ameris Bancorp by 20.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,673 shares of the bank’s stock worth $718,000 after purchasing an additional 1,650 shares in the last quarter. Mendon Capital Advisors Corp increased its holdings in Ameris Bancorp by 1.0% during the 4th quarter. Mendon Capital Advisors Corp now owns 25,500 shares of the bank’s stock worth $1,894,000 after purchasing an additional 250 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in shares of Ameris Bancorp by 23.4% in the fourth quarter. State of Tennessee Department of Treasury now owns 40,103 shares of the bank’s stock worth $3,233,000 after purchasing an additional 7,613 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ABCB shares. Stephens raised their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. DA Davidson boosted their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Finally, Truist Financial upped their price target on Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.67.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.