Ameris Bancorp (NASDAQ:ABCB) Issues Earnings Results

by · The Cerbat Gem

Ameris Bancorp (NASDAQ:ABCB – Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13, Briefing.com reports. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same period last year, the company earned $1.16 EPS.

Ameris Bancorp Stock Down 2.8 %

NASDAQ ABCB traded down $1.78 on Friday, reaching $61.25. 585,451 shares of the stock traded hands, compared to its average volume of 361,164. Ameris Bancorp has a 12 month low of $34.76 and a 12 month high of $66.51. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 14.91 and a beta of 1.01. The company has a fifty day moving average price of $61.48 and a 200-day moving average price of $54.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.98%. Ameris Bancorp’s payout ratio is currently 14.60%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DA Davidson raised their price target on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. StockNews.com cut shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens boosted their target price on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Truist Financial increased their price target on Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Read Our Latest Report on ABCB

About Ameris Bancorp

(Get Free Report)

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.

Featured Articles