Zacks: Analysts Expect Ameris Bancorp (NASDAQ:ABCB) to Post $1.20 Earnings Per Share

Wall Street analysts forecast that Ameris Bancorp (NASDAQ:ABCB) will announce earnings per share of $1.20 for the current quarter, according to Zacks. Four analysts have provided estimates for Ameris Bancorp’s earnings. The highest EPS estimate is $1.24 and the lowest is $1.17. Ameris Bancorp posted earnings per share of $1.69 in the same quarter last year, which would suggest a negative year-over-year growth rate of 29%. The firm is expected to announce its next earnings results on Thursday, October 28th.

On average, analysts expect that Ameris Bancorp will report full-year earnings of $5.34 per share for the current financial year, with EPS estimates ranging from $5.25 to $5.38. For the next year, analysts anticipate that the business will report earnings of $4.25 per share, with EPS estimates ranging from $4.10 to $4.46. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Wednesday, July 21st. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. The business had revenue of $251.09 million during the quarter, compared to analysts’ expectations of $263.83 million. Ameris Bancorp had a net margin of 35.64% and a return on equity of 15.63%. During the same period last year, the company posted $0.61 earnings per share.

Separately, Zacks Investment Research cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $49.20.

In other Ameris Bancorp news, CEO H Palmer Proctor, Jr. purchased 2,500 shares of the stock in a transaction dated Tuesday, July 27th. The shares were bought at an average price of $46.71 per share, with a total value of $116,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Ameris Bancorp by 218.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,749,442 shares of the bank’s stock worth $88,575,000 after buying an additional 1,200,349 shares in the last quarter. Janus Henderson Group PLC grew its stake in Ameris Bancorp by 65.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,693,301 shares of the bank’s stock worth $88,915,000 after buying an additional 668,306 shares in the last quarter. State Street Corp grew its stake in Ameris Bancorp by 16.2% in the 2nd quarter. State Street Corp now owns 4,115,179 shares of the bank’s stock worth $208,969,000 after buying an additional 573,698 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Ameris Bancorp by 83.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,164,370 shares of the bank’s stock worth $61,141,000 after buying an additional 527,958 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Ameris Bancorp by 67.0% in the 1st quarter. Nuveen Asset Management LLC now owns 1,189,812 shares of the bank’s stock worth $62,477,000 after buying an additional 477,476 shares in the last quarter. 88.29% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ABCB traded down $0.99 during trading hours on Tuesday, reaching $46.68. The company had a trading volume of 517,261 shares, compared to its average volume of 422,470. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 7.67 and a beta of 1.40. The business’s 50-day simple moving average is $48.39 and its two-hundred day simple moving average is $51.60. Ameris Bancorp has a twelve month low of $20.85 and a twelve month high of $59.85. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.19.

About Ameris Bancorp

Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.

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Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

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