Ameris Bancorp (NASDAQ:ABCB) Announces Quarterly Earnings Results

Ameris Bancorp (NASDAQ:ABCB) announced its quarterly earnings results on Thursday. The bank reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03, Briefing.com reports. Ameris Bancorp had a net margin of 19.28% and a return on equity of 9.07%. The firm had revenue of $436.03 million for the quarter, compared to analyst estimates of $273.67 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share.

Ameris Bancorp Stock Up 1.4 %

Shares of Ameris Bancorp stock traded up $0.83 during trading hours on Friday, reaching $61.71. 486,659 shares of the company’s stock were exchanged, compared to its average volume of 451,164. The company has a 50 day moving average of $50.98 and a two-hundred day moving average of $49.08. Ameris Bancorp has a fifty-two week low of $34.26 and a fifty-two week high of $63.80. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.26 billion, a P/E ratio of 15.01 and a beta of 1.04.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Sunday, June 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Ameris Bancorp’s dividend payout ratio is 14.60%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABCB. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Piper Sandler upped their target price on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Truist Financial reduced their target price on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $53.00 target price on shares of Ameris Bancorp in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

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.