Brokers Issue Forecasts for Ameris Bancorp’s Q3 2024 Earnings (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB) – Equities research analysts at DA Davidson issued their Q3 2024 EPS estimates for Ameris Bancorp in a research note issued on Tuesday, July 30th. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $1.18 for the quarter. DA Davidson currently has a “Buy” rating and a $76.00 price objective on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.67 per share.

Several other analysts have also issued reports on ABCB. Truist Financial upped their target price on shares of Ameris Bancorp from $54.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Stephens lifted their price target on Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods upped their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler increased their target price on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.

Ameris Bancorp Trading Down 4.0 %

Shares of Ameris Bancorp stock opened at $58.46 on Wednesday. The company has a market capitalization of $4.04 billion, a P/E ratio of 14.22 and a beta of 1.04. The stock has a fifty day simple moving average of $51.67 and a 200 day simple moving average of $49.27. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $64.88. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same quarter in the previous year, the business earned $0.91 EPS.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Sunday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, June 28th. Ameris Bancorp’s payout ratio is 14.60%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABCB. Jupiter Asset Management Ltd. purchased a new position in shares of Ameris Bancorp in the 1st quarter worth about $3,869,000. Allspring Global Investments Holdings LLC lifted its holdings in Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after buying an additional 178,500 shares during the period. Quantbot Technologies LP bought a new position in Ameris Bancorp in the first quarter worth $1,154,000. New York State Common Retirement Fund lifted its position in Ameris Bancorp by 7.0% during the 4th quarter. New York State Common Retirement Fund now owns 276,624 shares of the bank’s stock valued at $14,675,000 after acquiring an additional 18,090 shares during the period. Finally, Congress Asset Management Co. MA grew its stake in shares of Ameris Bancorp by 5.5% in the first quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after acquiring an additional 40,323 shares during the last quarter. 91.64% of the stock is owned by 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.