Ameris Bancorp (ABCB) Set to Announce Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) is scheduled to release its earnings data after the market closes on Thursday, April 25th. Analysts expect Ameris Bancorp to post earnings of $1.06 per share for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.05). The business had revenue of $262.35 million for the quarter, compared to analyst estimates of $267.23 million. Ameris Bancorp had a return on equity of 8.30% and a net margin of 17.67%. On average, analysts expect Ameris Bancorp to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ameris Bancorp Stock Up 0.6 %

ABCB stock traded up $0.28 during trading hours on Thursday, reaching $44.79. 278,023 shares of the stock were exchanged, compared to its average volume of 387,458. The firm's 50-day moving average is $46.60 and its 200-day moving average is $45.77. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 11.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.02. Ameris Bancorp has a 12 month low of $28.33 and a 12 month high of $53.99.

Ameris Bancorp Dividend Announcement

The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Wednesday, March 27th. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

ABCB has been the subject of a number of research reports. StockNews.com cut Ameris Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, March 21st. Stephens restated an "equal weight" rating and issued a $53.00 price objective on shares of Ameris Bancorp in a report on Tuesday, January 30th. DA Davidson restated a "buy" rating on shares of Ameris Bancorp in a report on Monday, January 15th. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Ameris Bancorp has a consensus rating of "Hold" and an average price target of $50.25.

Insider Activity at Ameris Bancorp

In related news, insider Jon S. Edwards sold 7,500 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the sale, the insider now directly owns 59,691 shares in the company, valued at approximately $2,826,368.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Ameris Bancorp by 32.1% during the first quarter. JPMorgan Chase & Co. now owns 331,742 shares of the bank's stock worth $14,557,000 after acquiring an additional 80,551 shares during the last quarter. Raymond James & Associates lifted its position in Ameris Bancorp by 21.3% during the first quarter. Raymond James & Associates now owns 20,411 shares of the bank's stock worth $896,000 after acquiring an additional 3,580 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Ameris Bancorp by 18.2% during the first quarter. PNC Financial Services Group Inc. now owns 13,753 shares of the bank's stock worth $604,000 after acquiring an additional 2,118 shares during the last quarter. Bank of Montreal Can lifted its position in Ameris Bancorp by 2.0% during the first quarter. Bank of Montreal Can now owns 27,723 shares of the bank's stock worth $1,283,000 after acquiring an additional 554 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Ameris Bancorp by 53.3% during the first quarter. MetLife Investment Management LLC now owns 35,341 shares of the bank's stock worth $1,551,000 after acquiring an additional 12,280 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.