Ameris Bancorp (ABCB) Expected to Release Earnings on Thursday

Key Points

• Ameris Bancorp is expected to report earnings after the market closes Thursday, October 22. Analysts forecast $1.68 in EPS and $326.66 million in revenue, compared with the prior quarter’s $1.60 EPS and $317.78 million in revenue.
• The stock opened at $78.07, below its 50-day and 200-day moving averages, and has traded between $68.80 and $93.22 over the past year. Ameris also pays a quarterly dividend of $0.20, equivalent to a 1.0% yield.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $90.67, although ratings range from Buy to Hold.

Ameris Bancorp (NYSE:ABCB - Get Free Report) is anticipated to announce its results after the market closes on Thursday, October 22nd. Analysts expect Ameris Bancorp to announce earnings of $1.68 per share and revenue of $326.66 million for the quarter.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%. The firm had revenue of $317.78 million during the quarter, compared to analysts' expectations of $323.78 million. During the same quarter last year, the business earned $1.59 EPS. On average, analysts expect Ameris Bancorp to post $6.61 EPS for the current fiscal year and $7.02 EPS for the next fiscal year.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $78.07 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a 50-day moving average of $84.06 and a two-hundred day moving average of $85.30. The stock has a market cap of $5.24 billion, a P/E ratio of 14.12 and a beta of 0.96. Ameris Bancorp has a one year low of $68.80 and a one year high of $93.22.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Wednesday, September 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Ameris Bancorp's dividend payout ratio is currently 14.47%.

Analysts Set New Price Targets

ABCB has been the subject of a number of research reports. Stephens set a $88.00 target price on Ameris Bancorp in a report on Monday, July 27th. DA Davidson lifted their price objective on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Weiss Ratings began coverage on shares of Ameris Bancorp in a report on Wednesday, September 2nd. They issued a "buy (b)" rating on the stock. Truist Financial dropped their price objective on shares of Ameris Bancorp from $90.00 to $84.00 and set a "hold" rating on the stock in a report on Friday, October 9th. Finally, Morgan Stanley upgraded shares of Ameris Bancorp to an "overweight" rating in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.67.

Ameris Bancorp Company Profile

Ameris Bancorp NYSE: ABCB is a financial holding company whose principal subsidiary, Ameris Bank, provides banking and financial services to individuals, businesses and institutions. The bank offers deposit accounts, commercial and consumer lending, residential mortgages, treasury and payment services, wealth management and other financial solutions.

Founded in 1971, Ameris Bank has grown from a community banking institution in Georgia into a regional bank serving customers across the southeastern United States.

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