Ameris Bancorp (ABCB) Projected to Post Earnings on Monday

Key Points

• Ameris Bancorp is anticipated to report earnings of $1.47 per share and revenue of $306.684 million after the market closes on Monday, October 27th.
• The company recently declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a dividend yield of 1.1%.
• DA Davidson set a target price of $81.00 on Ameris Bancorp, contributing to an overall strong bullish outlook with a consensus rating of "Moderate Buy."

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) is expected to release its results after the market closes on Monday, October 27th. Analysts expect Ameris Bancorp to post earnings of $1.47 per share and revenue of $306.6840 million for the quarter.

Ameris Bancorp Price Performance

ABCB opened at $70.93 on Monday. The stock has a fifty day simple moving average of $73.01 and a two-hundred day simple moving average of $65.61. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 13.61 and a beta of 0.94. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $76.58.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Ameris Bancorp's dividend payout ratio is currently 14.08%.

Institutional Investors Weigh In On Ameris Bancorp

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Ameris Bancorp by 432.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank's stock valued at $111,000 after buying an additional 1,394 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Ameris Bancorp during the first quarter valued at $243,000. Cetera Investment Advisers boosted its position in shares of Ameris Bancorp by 11.8% during the second quarter. Cetera Investment Advisers now owns 4,494 shares of the bank's stock valued at $291,000 after buying an additional 476 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Ameris Bancorp during the second quarter valued at $294,000. Finally, Captrust Financial Advisors boosted its position in shares of Ameris Bancorp by 31.5% during the second quarter. Captrust Financial Advisors now owns 6,121 shares of the bank's stock valued at $396,000 after buying an additional 1,465 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.

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