Ameris Bancorp (ABCB) to Release Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCBGet Rating) will post its quarterly earnings results after the market closes on Thursday, January 26th. Analysts expect Ameris Bancorp to post earnings of $1.34 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last released its quarterly earnings results on Thursday, October 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). Ameris Bancorp had a return on equity of 10.85% and a net margin of 31.01%. The business had revenue of $278.31 million during the quarter, compared to the consensus estimate of $277.57 million. On average, analysts expect Ameris Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ameris Bancorp Trading Down 1.1 %

NASDAQ:ABCB opened at $47.77 on Wednesday. Ameris Bancorp has a 1 year low of $38.22 and a 1 year high of $54.24. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 9.57 and a beta of 1.16. The business has a fifty day moving average of $49.15 and a 200-day moving average of $48.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.02 and a current ratio of 1.04.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Saturday, December 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, December 29th. Ameris Bancorp’s payout ratio is currently 12.02%.

Analyst Upgrades and Downgrades

ABCB has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of Ameris Bancorp in a research note on Monday, December 5th. Truist Financial increased their target price on shares of Ameris Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, October 31st. Raymond James lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, October 31st. Finally, StockNews.com began coverage on shares of Ameris Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Insider Activity at Ameris Bancorp

In related news, Director Jimmy D. Veal sold 1,120 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $51.87, for a total value of $58,094.40. Following the completion of the sale, the director now owns 88,425 shares in the company, valued at approximately $4,586,604.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider William D. Mckendry sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.96, for a total value of $155,880.00. Following the completion of the sale, the insider now owns 22,274 shares in the company, valued at approximately $1,157,357.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jimmy D. Veal sold 1,120 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $51.87, for a total transaction of $58,094.40. Following the completion of the sale, the director now owns 88,425 shares of the company’s stock, valued at approximately $4,586,604.75. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ABCB. JPMorgan Chase & Co. increased its stake in Ameris Bancorp by 32.1% in the 1st quarter. JPMorgan Chase & Co. now owns 331,742 shares of the bank’s stock valued at $14,557,000 after buying an additional 80,551 shares during the period. Raymond James & Associates increased its stake in Ameris Bancorp by 21.3% in the 1st quarter. Raymond James & Associates now owns 20,411 shares of the bank’s stock valued at $896,000 after buying an additional 3,580 shares during the period. PNC Financial Services Group Inc. increased its stake in Ameris Bancorp by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,753 shares of the bank’s stock valued at $604,000 after buying an additional 2,118 shares during the period. Bank of Montreal Can increased its stake in Ameris Bancorp by 2.0% in the 1st quarter. Bank of Montreal Can now owns 27,723 shares of the bank’s stock valued at $1,283,000 after buying an additional 554 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Ameris Bancorp by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 35,341 shares of the bank’s stock valued at $1,551,000 after buying an additional 12,280 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

Ameris Bancorp Company Profile

(Get Rating)

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.

Further Reading

Earnings History for Ameris Bancorp (NASDAQ:ABCB)

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