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

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

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock traded down $1.77 on Friday, hitting $61.26. 218,321 shares of the company’s stock were exchanged, compared to its average volume of 359,390. 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 stock has a market capitalization of $4.23 billion, a PE ratio of 15.34 and a beta of 1.01. Ameris Bancorp has a 1 year low of $34.76 and a 1 year high of $66.51. The company has a 50-day simple moving average of $61.48 and a 200-day simple moving average of $54.59.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders 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 annualized dividend and a yield of 0.98%. Ameris Bancorp’s payout ratio is presently 14.60%.

Analyst Upgrades and Downgrades

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