DA Davidson Predicts Ameris Bancorp Q4 Earnings

Ameris Bancorp (NASDAQ:ABCB) – Stock analysts at DA Davidson issued their Q4 2024 earnings estimates for Ameris Bancorp in a research report issued on Tuesday, October 29th. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $1.10 per share for the quarter. DA Davidson has a “Buy” rating and a $76.00 price objective on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.82 per share.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $424.86 million for the quarter, compared to the consensus estimate of $290.60 million. During the same period last year, the firm posted $1.16 EPS.

Several other analysts also recently issued reports on the company. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a research note on Monday. Stephens upped their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Truist Financial decreased their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB opened at $61.99 on Thursday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 12.91 and a beta of 1.01. The firm’s 50-day moving average price is $61.82 and its two-hundred day moving average price is $55.11. Ameris Bancorp has a 52-week low of $36.81 and a 52-week high of $66.51. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s payout ratio is currently 12.50%.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ameris Bancorp by 130.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,169 shares of the bank’s stock worth $589,000 after acquiring an additional 6,895 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after purchasing an additional 178,500 shares during the period. Norden Group LLC bought a new position in Ameris Bancorp during the 1st quarter valued at $278,000. BNP Paribas Financial Markets increased its position in shares of Ameris Bancorp by 181.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock valued at $2,517,000 after purchasing an additional 33,531 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Ameris Bancorp by 4.2% during the 1st quarter. Nordea Investment Management AB now owns 87,499 shares of the bank’s stock valued at $4,258,000 after purchasing an additional 3,560 shares during the period. Institutional investors own 91.64% of the company’s stock.

About Ameris Bancorp

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.