Ameris Bancorp (ABCB) Expected to Announce Earnings on Monday

Ameris Bancorp (NASDAQ:ABCB) is expected to release its results after the market closes on Monday, October 27th. Analysts expect Ameris Bancorp to post earnings of $1.47 per share and revenue of $306.6840 million for the quarter.

Ameris Bancorp Stock Up 2.1%

Shares of ABCB opened at $73.97 on Friday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.20 and a beta of 0.94. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $76.58. The business’s 50 day simple moving average is $73.32 and its 200-day simple moving average is $66.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Ameris Bancorp’s dividend payout ratio is 14.08%.

Ameris Bancorp announced that its Board of Directors has initiated a stock buyback program on Monday, October 20th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its stake in Ameris Bancorp by 1.2% in the 2nd quarter. Cerity Partners LLC now owns 18,469 shares of the bank’s stock valued at $1,195,000 after purchasing an additional 218 shares in the last quarter. Cetera Investment Advisers grew its holdings in Ameris Bancorp by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,494 shares of the bank’s stock valued at $291,000 after buying an additional 476 shares during the last quarter. Mendon Capital Advisors Corp boosted its holdings in shares of Ameris Bancorp by 4.0% during the second quarter. Mendon Capital Advisors Corp now owns 13,000 shares of the bank’s stock worth $841,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Ameris Bancorp by 432.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock worth $111,000 after purchasing an additional 1,394 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Ameris Bancorp by 31.5% in the second quarter. Captrust Financial Advisors now owns 6,121 shares of the bank’s stock valued at $396,000 after acquiring an additional 1,465 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised Ameris Bancorp to a “strong-buy” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $72.14.

Ameris Bancorp Company Profile

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.