Ameris Bancorp (NASDAQ:ABCB - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Ameris Bancorp in a report issued on Tuesday, April 30th. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $1.22 for the quarter. DA Davidson has a "Buy" rating on the stock. The consensus estimate for Ameris Bancorp's current full-year earnings is $4.55 per share. DA Davidson also issued estimates for Ameris Bancorp's FY2025 earnings at $5.10 EPS.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its earnings results on Friday, April 26th. The bank reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The firm had revenue of $267.27 million for the quarter, compared to the consensus estimate of $258.05 million. During the same quarter last year, the business posted $0.86 EPS. The company's revenue was down .2% compared to the same quarter last year.
A number of other research analysts have also recently commented on the company. StockNews.com upgraded Ameris Bancorp from a "sell" rating to a "hold" rating in a research note on Monday. Truist Financial decreased their price objective on Ameris Bancorp from $60.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 1st. Piper Sandler upped their price target on Ameris Bancorp from $55.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Stephens restated an "equal weight" rating and set a $53.00 price objective on shares of Ameris Bancorp in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.
Check Out Our Latest Research Report on Ameris Bancorp
Ameris Bancorp Price Performance
Shares of ABCB traded up $0.55 during mid-day trading on Wednesday, reaching $48.03. The company had a trading volume of 360,687 shares, compared to its average volume of 380,733. The company's 50 day simple moving average is $46.63 and its 200 day simple moving average is $46.41. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 11.73 and a beta of 1.05. Ameris Bancorp has a 1-year low of $28.33 and a 1-year high of $53.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04.
Ameris Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. Ameris Bancorp's payout ratio is currently 14.60%.
Insider Transactions at Ameris Bancorp
In related news, insider Jon S. Edwards sold 7,500 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $47.35, for a total transaction of $355,125.00. Following the sale, the insider now owns 59,691 shares in the company, valued at approximately $2,826,368.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at approximately $31,000. Assetmark Inc. increased its position in shares of Ameris Bancorp by 11.1% during the third quarter. Assetmark Inc. now owns 4,565 shares of the bank's stock valued at $175,000 after acquiring an additional 456 shares during the last quarter. Journey Strategic Wealth LLC bought a new stake in Ameris Bancorp during the fourth quarter worth $203,000. Trexquant Investment LP purchased a new position in Ameris Bancorp in the fourth quarter worth $205,000. Finally, KLR Investment Advisors LLC purchased a new position in shares of Ameris Bancorp in the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 91.64% of the company's stock.
Ameris Bancorp Company Profile
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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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