The Ameris Bancorp (ABCB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

The Ameris Bancorp (ABCB) Releases Quarterly  Earnings Results, Beats Estimates By $0.02 EPS

Ameris Bancorp (NASDAQ:ABCB) released its earnings results on Monday. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Ameris Bancorp had a net margin of 19.56% and a return on equity of 12.02%.

Ameris Bancorp (NASDAQ:ABCB) opened at 35.80 on Tuesday. Ameris Bancorp has a 52 week low of $24.96 and a 52 week high of $36.31. The firm has a market cap of $1.25 billion, a PE ratio of 19.22 and a beta of 1.33. The stock has a 50 day moving average of $35.29 and a 200 day moving average of $32.22.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.05. Ameris Bancorp’s payout ratio is currently 21.62%.

A number of large investors have recently made changes to their positions in ABCB. Arizona State Retirement System raised its stake in shares of Ameris Bancorp by 2.1% in the second quarter. Arizona State Retirement System now owns 14,500 shares of the company’s stock valued at $431,000 after buying an additional 300 shares during the period. American International Group Inc. raised its stake in shares of Ameris Bancorp by 1.9% in the second quarter. American International Group Inc. now owns 24,297 shares of the company’s stock valued at $722,000 after buying an additional 460 shares during the period. BlackRock Advisors LLC raised its stake in shares of Ameris Bancorp by 7.5% in the second quarter. BlackRock Advisors LLC now owns 15,450 shares of the company’s stock valued at $459,000 after buying an additional 1,078 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Ameris Bancorp by 2.6% in the second quarter. Janney Montgomery Scott LLC now owns 44,361 shares of the company’s stock valued at $1,508,000 after buying an additional 1,105 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Ameris Bancorp by 12.7% in the second quarter. Parametric Portfolio Associates LLC now owns 11,969 shares of the company’s stock valued at $355,000 after buying an additional 1,351 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on the stock. Sandler O’Neill cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating and raised their target price for the company from $36.00 to $38.00 in a research note on Tuesday, September 27th. Zacks Investment Research cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $34.30.

About Ameris Bancorp

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