Ameris Bancorp (NASDAQ:ABCB) Issues Earnings Results

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) issued its earnings results on Monday. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16, Briefing.com reports. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 EPS.

Ameris Bancorp Stock Performance

Shares of ABCB stock traded down $0.10 during trading hours on Tuesday, reaching $56.87. The company had a trading volume of 97,160 shares, compared to its average volume of 389,283. The business has a fifty day moving average price of $56.97 and a 200-day moving average price of $62.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market cap of $3.92 billion, a PE ratio of 10.93 and a beta of 0.87. Ameris Bancorp has a one year low of $45.89 and a one year high of $74.56.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.41%. Ameris Bancorp's payout ratio is 15.36%.

Insider Buying and Selling

In other news, insider Douglas D. Strange purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares of the company's stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABCB has been the topic of a number of research analyst reports. Piper Sandler began coverage on Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 target price on the stock. Raymond James reissued an "outperform" rating and issued a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens reissued an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Piper Sandler Companies boosted their price objective on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.43.

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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