Q2 2019 EPS Estimates for Ameris Bancorp (ABCB) Raised by Analyst

Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at SunTrust Banks upped their Q2 2019 earnings estimates for shares of Ameris Bancorp in a research note issued to investors on Thursday, October 25th. SunTrust Banks analyst J. Demba now anticipates that the bank will post earnings of $1.13 per share for the quarter, up from their previous estimate of $1.08. SunTrust Banks also issued estimates for Ameris Bancorp’s Q4 2019 earnings at $1.19 EPS.

Several other equities research analysts have also issued reports on ABCB. BidaskClub lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Stephens reissued a “buy” rating and set a $62.00 price target on shares of Ameris Bancorp in a research report on Friday, July 13th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $61.00 price target on shares of Ameris Bancorp in a research report on Friday, July 27th. Piper Jaffray Companies set a $54.00 price target on Ameris Bancorp and gave the company a “hold” rating in a research report on Monday, July 30th. Finally, Sandler O’Neill reissued a “hold” rating and set a $54.00 price target on shares of Ameris Bancorp in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $57.67.



ABCB stock opened at $42.33 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.98 billion, a P/E ratio of 17.07 and a beta of 1.13. Ameris Bancorp has a 12-month low of $39.34 and a 12-month high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, October 19th. The bank reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The business had revenue of $129.21 million for the quarter, compared to analyst estimates of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, September 27th. Ameris Bancorp’s dividend payout ratio is presently 16.13%.

In related news, Director Leo J. Hill bought 2,000 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were purchased at an average cost of $48.38 per share, with a total value of $96,760.00. Following the completion of the transaction, the director now directly owns 18,984 shares of the company’s stock, valued at $918,445.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Mccague bought 1,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $50.05 per share, for a total transaction of $50,050.00. Following the completion of the transaction, the director now directly owns 5,226 shares of the company’s stock, valued at $261,561.30. The disclosure for this purchase can be found here. 3.07% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mesirow Financial Investment Management Equity Management increased its position in Ameris Bancorp by 24.7% in the third quarter. Mesirow Financial Investment Management Equity Management now owns 364,582 shares of the bank’s stock worth $16,662,000 after buying an additional 72,144 shares during the period. Russell Investments Group Ltd. increased its position in Ameris Bancorp by 2.6% in the third quarter. Russell Investments Group Ltd. now owns 693,255 shares of the bank’s stock worth $31,682,000 after buying an additional 17,277 shares during the period. Security National Bank increased its position in Ameris Bancorp by 5.5% in the third quarter. Security National Bank now owns 43,644 shares of the bank’s stock worth $1,994,000 after buying an additional 2,286 shares during the period. Northern Trust Corp increased its position in Ameris Bancorp by 12.1% in the second quarter. Northern Trust Corp now owns 512,879 shares of the bank’s stock worth $27,362,000 after buying an additional 55,212 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Ameris Bancorp by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock worth $42,901,000 after buying an additional 15,052 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

About Ameris Bancorp

Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.

Recommended Story: NASDAQ Stock Market Explained

Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply