Ameris Bancorp (NASDAQ:ABCB) Announces Quarterly Earnings Results

Ameris Bancorp (NASDAQ:ABCB) issued 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 company had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same quarter last year, the company posted $1.16 earnings per share.

Ameris Bancorp Stock Down 2.8 %

Shares of Ameris Bancorp stock opened at $61.25 on Friday. Ameris Bancorp has a one year low of $34.76 and a one year high of $66.51. The company has a market cap of $4.23 billion, a P/E ratio of 14.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. The firm has a fifty day moving average of $61.54 and a two-hundred day moving average of $54.74.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors 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 yield of 0.98%. Ameris Bancorp’s dividend payout ratio (DPR) is 14.60%.

Analyst Ratings Changes

ABCB has been the subject of a number of research analyst reports. StockNews.com cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research 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. DA Davidson upped their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Truist Financial upped their target price on shares of Ameris Bancorp from $69.00 to $73.00 and gave the company 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

About Ameris Bancorp

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.