Ameris Bancorp (ABCB) to Release Quarterly Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is expected to announce its earnings results after the market closes on Thursday, January 30th. Analysts expect the company to announce earnings of $1.20 per share and revenue of $276,188.75 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The business had revenue of $424.86 million during the quarter, compared to analysts’ expectations of $290.60 million. During the same quarter in the prior year, the business posted $1.16 earnings per share. 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 Price Performance

ABCB stock opened at $64.43 on Thursday. The company’s 50-day moving average price is $65.76 and its two-hundred day moving average price is $62.52. The firm has a market cap of $4.45 billion, a P/E ratio of 13.42 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56.

Ameris Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 16.67%.

Insider Activity at Ameris Bancorp

In other news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares of the company’s stock, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James raised Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a report on Monday, October 28th. Truist Financial reduced their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Stephens increased their price objective on shares of Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.17.

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.