Ameris Bancorp (NASDAQ:ABCB) Releases Earnings Results, Beats Estimates By $0.03 EPS

Ameris Bancorp (NASDAQ:ABCB) released its earnings results on Thursday. The bank reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03, Briefing.com reports. Ameris Bancorp had a return on equity of 9.07% and a net margin of 19.28%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the previous year, the company posted $0.91 EPS.

Ameris Bancorp Stock Up 2.1 %

Shares of NASDAQ:ABCB opened at $62.17 on Friday. The stock’s 50-day moving average is $50.98 and its 200 day moving average is $49.08. The company has a market cap of $4.30 billion, a PE ratio of 13.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.02. Ameris Bancorp has a 1 year low of $34.26 and a 1 year high of $63.80.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Sunday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. Ameris Bancorp’s payout ratio is presently 14.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABCB shares. Piper Sandler boosted their price objective on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Truist Financial decreased their price objective on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 1st. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $53.00 price target on shares of Ameris Bancorp in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.