Ameris Bancorp (NASDAQ:ABCB) Announces Earnings Results, Beats Estimates By $0.13 EPS

Ameris Bancorp (NASDAQ:ABCB) released its quarterly earnings results on Thursday. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13, Briefing.com reports. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. During the same quarter in the prior year, the company posted $1.16 EPS.

Ameris Bancorp Stock Down 2.8 %

ABCB stock traded down $1.77 on Friday, reaching $61.26. 218,321 shares of the company traded hands, compared to its average volume of 359,390. The firm has a fifty day simple moving average of $61.48 and a 200-day simple moving average of $54.59. The company has a market cap of $4.23 billion, a P/E ratio of 15.34 and a beta of 1.01. Ameris Bancorp has a one year low of $34.76 and a one year high of $66.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Analysts Set New Price Targets

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

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.