Ameris Bancorp (NASDAQ:ABCB) Announces Quarterly Earnings Results

Ameris Bancorp (NASDAQ:ABCBGet Free Report) released its quarterly earnings data on Thursday. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09, Briefing.com reports. The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the prior year, the company earned $1.28 earnings per share.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $84.93 on Friday. The firm has a market cap of $5.80 billion, a P/E ratio of 16.30 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1-year low of $55.70 and a 1-year high of $87.98. The business’s 50 day moving average is $79.68 and its 200-day moving average is $77.66.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio (DPR) is 12.58%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson set a $94.00 target price on Ameris Bancorp in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Truist Financial increased their target price on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, Stephens increased their target price on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Check Out Our Latest Analysis on ABCB

Hedge Funds Weigh In On Ameris Bancorp

Large investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Ameris Bancorp during the third quarter worth approximately $45,000. Danske Bank A S acquired a new stake in Ameris Bancorp during the third quarter worth approximately $51,000. EverSource Wealth Advisors LLC grew its position in Ameris Bancorp by 432.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock worth $111,000 after buying an additional 1,394 shares in the last quarter. Focus Partners Wealth acquired a new stake in Ameris Bancorp during the third quarter worth approximately $177,000. Finally, Fiduciary Group LLC acquired a new stake in Ameris Bancorp during the fourth quarter worth approximately $201,000. Institutional investors own 91.60% of the company’s stock.

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About Ameris Bancorp

(Get Free Report)

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.

See Also

Earnings History for Ameris Bancorp (NASDAQ:ABCB)

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