Ameris Bancorp (ABCB) Projected to Post Quarterly Earnings on Monday

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Monday, July 28th. Analysts expect the company to announce earnings of $1.35 per share and revenue of $298.26 million for the quarter.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. The firm had revenue of $285.86 million for the quarter, compared to analyst estimates of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. 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 ABCB stock traded down $0.27 during trading on Thursday, reaching $66.20. 44,624 shares of the company's stock were exchanged, compared to its average volume of 410,537. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm's fifty day moving average price is $63.73 and its 200-day moving average price is $61.38. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56. The stock has a market capitalization of $4.56 billion, a PE ratio of 12.71 and a beta of 0.93.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's payout ratio is 14.81%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler Companies increased their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Raymond James Financial reduced their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Stephens restated an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Piper Sandler initiated coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.43.

Institutional Trading of Ameris Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ameris Bancorp by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank's stock valued at $10,767,000 after purchasing an additional 13,633 shares during the period. Jane Street Group LLC bought a new position in Ameris Bancorp in the 1st quarter worth about $10,528,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank's stock worth $2,256,000 after acquiring an additional 1,703 shares during the last quarter. Royal Bank of Canada increased its stake in Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank's stock worth $1,687,000 after acquiring an additional 2,546 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank's stock worth $671,000 after acquiring an additional 3,129 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

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.