Ameris Bancorp (NASDAQ:ABCB) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Ameris Bancorp (NASDAQ:ABCB) posted its earnings results on Friday. The bank reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.03, reports. The firm had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $213.84 million. Ameris Bancorp had a return on equity of 12.01% and a net margin of 26.23%. The firm’s revenue was up 74.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share.

NASDAQ ABCB traded down $0.32 on Friday, reaching $41.16. The stock had a trading volume of 11,790 shares, compared to its average volume of 502,256. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 1.00. Ameris Bancorp has a 12-month low of $29.97 and a 12-month high of $45.25. The business’s 50-day moving average price is $38.40 and its 200 day moving average price is $37.33. The stock has a market cap of $2.87 billion, a P/E ratio of 12.16 and a beta of 1.51.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, September 27th. Ameris Bancorp’s dividend payout ratio is currently 17.75%.

Several equities research analysts recently weighed in on the company. Stephens restated a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Monday, July 1st. Raymond James assumed coverage on Ameris Bancorp in a research note on Thursday, July 11th. They set an “outperform” rating and a $45.00 target price for the company. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. BidaskClub upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, ValuEngine upgraded Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $45.60.

About Ameris Bancorp

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

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Earnings History for Ameris Bancorp (NASDAQ:ABCB)

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