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

Ameris Bancorp (NASDAQ:ABCB) released its quarterly earnings data on Thursday. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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.

Ameris Bancorp Stock Down 2.8 %

Shares of NASDAQ:ABCB opened at $61.25 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.23 billion, a P/E ratio of 14.90 and a beta of 1.01. Ameris Bancorp has a 52-week low of $34.76 and a 52-week high of $66.51. The stock’s fifty day simple moving average is $61.54 and its 200-day simple moving average is $54.74.

Ameris Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. StockNews.com lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens raised their price objective on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, DA Davidson lifted their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus price target 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.