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.
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