S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
pixel
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
pixel
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
pixel
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
pixel

Ameris Bancorp (NASDAQ:ABCB) Expected to Post Quarterly Sales of $247.61 Million

Last updated on Thursday, September 16, 2021 | 2021 MarketBeat

Brokerages expect Ameris Bancorp (NASDAQ:ABCB) to report sales of $247.61 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ameris Bancorp's earnings, with estimates ranging from $243.12 million to $251.20 million. Ameris Bancorp posted sales of $321.56 million during the same quarter last year, which suggests a negative year-over-year growth rate of 23%. The company is scheduled to report its next earnings report on Thursday, October 28th.

On average, analysts expect that Ameris Bancorp will report full-year sales of $1.02 billion for the current fiscal year, with estimates ranging from $1.00 billion to $1.03 billion. For the next financial year, analysts expect that the company will post sales of $976.15 million, with estimates ranging from $942.18 million to $1.01 billion. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Wednesday, July 21st. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The firm had revenue of $251.09 million for the quarter, compared to analysts' expectations of $263.83 million. Ameris Bancorp had a net margin of 35.64% and a return on equity of 15.63%. During the same period in the prior year, the company posted $0.61 earnings per share.

Separately, Zacks Investment Research lowered shares of Ameris Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, July 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $49.20.

In other Ameris Bancorp news, CEO H Palmer Proctor, Jr. purchased 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 27th. The shares were acquired at an average price of $46.71 per share, for a total transaction of $116,775.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.50% of the company's stock.

A number of institutional investors have recently bought and sold shares of the business. The PNC Financial Services Group Inc. grew its stake in Ameris Bancorp by 2.0% during the first quarter. The PNC Financial Services Group Inc. now owns 11,610 shares of the bank's stock worth $609,000 after purchasing an additional 223 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Ameris Bancorp by 129.2% in the first quarter. Parkside Financial Bank & Trust now owns 573 shares of the bank's stock valued at $30,000 after buying an additional 323 shares during the period. Royal Bank of Canada raised its stake in shares of Ameris Bancorp by 1.3% in the second quarter. Royal Bank of Canada now owns 27,951 shares of the bank's stock valued at $1,416,000 after buying an additional 354 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Ameris Bancorp by 7.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,891 shares of the bank's stock valued at $362,000 after purchasing an additional 475 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Ameris Bancorp by 42.3% during the 2nd quarter. Toronto Dominion Bank now owns 1,600 shares of the bank's stock valued at $81,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 88.29% of the company's stock.

Shares of ABCB opened at $47.09 on Thursday. The firm has a 50-day moving average price of $48.36 and a 200 day moving average price of $51.57. The firm has a market capitalization of $3.29 billion, a PE ratio of 7.73 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.19. Ameris Bancorp has a 52-week low of $20.85 and a 52-week high of $59.85.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.

See Also: Initial Coin Offering (ICO)

Get a free copy of the Zacks research report on Ameris Bancorp (ABCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Ameris Bancorp right now?

Before you consider Ameris Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameris Bancorp wasn't on the list.

While Ameris Bancorp currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.