FY2024 EPS Estimates for Ameris Bancorp Boosted by Analyst

Ameris Bancorp (NASDAQ:ABCB - Free Report) - Research analysts at DA Davidson upped their FY2024 earnings per share estimates for Ameris Bancorp in a research note issued on Tuesday, October 29th. DA Davidson analyst M. Navas now anticipates that the bank will earn $4.75 per share for the year, up from their prior estimate of $4.65. DA Davidson currently has a "Buy" rating and a $76.00 target price on the stock. The consensus estimate for Ameris Bancorp's current full-year earnings is $4.82 per share. DA Davidson also issued estimates for Ameris Bancorp's FY2025 earnings at $5.05 EPS.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $424.86 million during 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 period in the previous year, the company earned $1.16 earnings per share.

A number of other equities analysts have also recently commented on ABCB. Truist Financial dropped their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a research note on Monday. Raymond James raised Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 target price on the stock in a research report on Monday. StockNews.com downgraded Ameris Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, Stephens boosted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.67.

Ameris Bancorp Price Performance

ABCB stock traded up $0.72 during midday trading on Wednesday, hitting $63.01. The company's stock had a trading volume of 254,832 shares, compared to its average volume of 360,146. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 15.16 and a beta of 1.01. Ameris Bancorp has a 12 month low of $36.81 and a 12 month high of $66.51. 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 50 day moving average of $61.73 and a two-hundred day moving average of $55.05.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Ameris Bancorp's payout ratio is 14.60%.

Institutional Trading of Ameris Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in shares of Ameris Bancorp in the 1st quarter valued at approximately $3,869,000. Allspring Global Investments Holdings LLC lifted its position in Ameris Bancorp by 75.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank's stock worth $20,153,000 after acquiring an additional 178,500 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Ameris Bancorp in the first quarter worth about $1,154,000. Seven Eight Capital LP grew its holdings in Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank's stock worth $1,082,000 after acquiring an additional 15,343 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Ameris Bancorp by 181.3% in the first quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank's stock worth $2,517,000 after purchasing an additional 33,531 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

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.