Ameris Bancorp (NASDAQ:ABCB) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• Ameris Bancorp reported Q1 EPS of $1.63, beating consensus by $0.09, with a return on equity of 9.57% and a net margin of 21.46%, versus $1.28 EPS a year earlier.
• Shares traded up about 1% to $84.67 on above-average volume, giving the company a market cap of $5.78 billion and a P/E of 16.25, within a 12‑month range of $55.21–$87.98.
• The bank paid a quarterly dividend of $0.20 (annualized $0.80) for a 0.9% yield and 13.33% payout ratio, while analysts maintain a "Moderate Buy" consensus with an average target of $86.50.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) released its quarterly earnings results on Thursday. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09, Briefing.com reports. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period last year, the business posted $1.28 earnings per share.

Ameris Bancorp Stock Up 1.0%

NASDAQ:ABCB traded up $0.82 during mid-day trading on Thursday, hitting $84.67. 923,539 shares of the company's stock traded hands, compared to its average volume of 560,660. The company has a fifty day moving average of $79.63 and a 200 day moving average of $77.54. Ameris Bancorp has a twelve month low of $55.21 and a twelve month high of $87.98. The company has a market capitalization of $5.78 billion, a P/E ratio of 16.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Ameris Bancorp's dividend payout ratio is currently 13.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABCB shares. Stephens boosted their price target on Ameris Bancorp from $79.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 price target on Ameris Bancorp in a research report on Monday, February 2nd. Truist Financial boosted their price target on Ameris Bancorp from $83.00 to $86.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.50.

Institutional Trading of Ameris Bancorp

Large investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new stake in Ameris Bancorp during the 2nd quarter valued at about $294,000. Cetera Investment Advisers grew its stake in Ameris Bancorp by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,494 shares of the bank's stock valued at $291,000 after purchasing an additional 476 shares during the last quarter. Inceptionr LLC purchased a new stake in Ameris Bancorp during the 4th quarter valued at about $272,000. Coldstream Capital Management Inc. grew its stake in Ameris Bancorp by 6.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,595 shares of the bank's stock valued at $264,000 after purchasing an additional 232 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Ameris Bancorp during the 1st quarter valued at about $243,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

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.

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