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

Ameris Bancorp (NASDAQ:ABCB) issued its quarterly earnings data on Thursday. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13, Briefing.com reports. The firm had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same quarter in the previous year, the company posted $1.16 EPS.

Ameris Bancorp Trading Down 2.8 %

Shares of Ameris Bancorp stock traded down $1.78 during trading on Friday, reaching $61.25. 585,659 shares of the company were exchanged, compared to its average volume of 361,165. Ameris Bancorp has a twelve month low of $34.76 and a twelve month high of $66.51. The business has a 50-day moving average price of $61.54 and a 200-day moving average price of $54.69. 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 firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.90 and a beta of 1.01.

Ameris Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ABCB shares. Keefe, Bruyette & Woods upped their price target 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. Stephens upped 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. StockNews.com lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. DA Davidson boosted their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Truist Financial increased their price objective on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.