DA Davidson Predicts Ameris Bancorp Q4 Earnings

Ameris Bancorp (NASDAQ:ABCB - Free Report) - Analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Ameris Bancorp in a report released on Tuesday, October 29th. DA Davidson analyst M. Navas forecasts that the bank will earn $1.10 per share for the quarter. DA Davidson has a "Buy" rating and a $76.00 price target on the stock. The consensus estimate for Ameris Bancorp's current full-year earnings is $4.82 per share.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.13. 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 for the quarter, compared to analyst estimates of $290.60 million. During the same quarter in the prior year, the company posted $1.16 earnings per share.

ABCB has been the topic of several other research reports. Truist Financial lowered their target price on Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating on the stock in a report on Monday. Keefe, Bruyette & Woods upped their target price on Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, July 29th. StockNews.com raised Ameris Bancorp from a "sell" rating to a "hold" rating in a report on Thursday. 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 report on Monday. Finally, Stephens upped their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Ameris Bancorp presently has an average rating of "Moderate Buy" and an average price target of $66.67.

Ameris Bancorp Price Performance

Ameris Bancorp stock traded down $1.02 during trading hours on Thursday, hitting $61.99. The stock had a trading volume of 323,454 shares, compared to its average volume of 359,972. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 12.91 and a beta of 1.01. Ameris Bancorp has a 1-year low of $36.81 and a 1-year high of $66.51. The stock's fifty day moving average is $61.82 and its two-hundred day moving average is $55.11.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Monday, September 30th. Ameris Bancorp's payout ratio is currently 12.50%.

Hedge Funds Weigh In On Ameris Bancorp

Large investors have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. purchased a new position in Ameris Bancorp during the second quarter worth about $33,000. GAMMA Investing LLC lifted its position in Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank's stock worth $41,000 after buying an additional 326 shares during the period. Blue Trust Inc. lifted its position in Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank's stock worth $44,000 after buying an additional 509 shares during the period. CWM LLC lifted its position in Ameris Bancorp by 33.5% during the second quarter. CWM LLC now owns 1,310 shares of the bank's stock worth $66,000 after buying an additional 329 shares during the period. Finally, US Bancorp DE lifted its position in Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank's stock worth $120,000 after buying an additional 1,868 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.