Ameris Bancorp (NASDAQ:ABCB - Get Free Report) posted its earnings results on Thursday. The bank reported $1.38 EPS for the quarter, topping the consensus estimate of $1.25 by $0.13, Briefing.com reports. The company had revenue of $424.86 million during the quarter, compared to the consensus estimate 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 firm posted $1.16 earnings per share.
Ameris Bancorp Stock Performance
Shares of ABCB traded down $1.78 during trading hours on Friday, reaching $61.25. 585,451 shares of the company traded hands, compared to its average volume of 361,165. 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's fifty day moving average is $61.48 and its 200 day moving average is $54.59. Ameris Bancorp has a 1-year low of $34.76 and a 1-year high of $66.51. The stock has a market cap of $4.23 billion, a P/E ratio of 14.90 and a beta of 1.01.
Ameris Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Ameris Bancorp's payout ratio is 14.60%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ABCB. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. StockNews.com cut Ameris Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday. Truist Financial lifted their price target 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. DA Davidson upped their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, Stephens lifted their target price on shares of Ameris Bancorp from $52.00 to $64.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.
Read Our Latest Stock Analysis on Ameris Bancorp
About Ameris Bancorp
(
Get Free Report)
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.
Featured Articles
Before you consider Ameris Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameris Bancorp wasn't on the list.
While Ameris Bancorp currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
