Ameris Bancorp (ABCB) Expected to Announce Earnings on Thursday

Ameris Bancorp (NASDAQ:ABCB) is expected to be posting its results after the market closes on Thursday, January 29th. Analysts expect Ameris Bancorp to post earnings of $1.56 per share and revenue of $310.4840 million for the quarter.

Ameris Bancorp Stock Down 0.3%

NASDAQ ABCB opened at $80.14 on Wednesday. The company has a 50 day moving average of $77.22 and a 200-day moving average of $73.63. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $83.64. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 15.38 and a beta of 0.99.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is currently 13.84%.

Ameris Bancorp declared that its Board of Directors has approved a stock repurchase plan on Monday, October 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating and issued a $80.00 price objective (up from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. DA Davidson assumed coverage on Ameris Bancorp in a report on Tuesday, November 25th. They issued a “buy” rating and a $87.00 price objective for the company. Truist Financial set a $83.00 price target on shares of Ameris Bancorp in a report on Friday, January 9th. Finally, Piper Sandler set a $84.00 price target on Ameris Bancorp in a report on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

Institutional Trading of Ameris Bancorp

Hedge funds have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new position in Ameris Bancorp in the third quarter valued at about $45,000. Danske Bank A S bought a new position in Ameris Bancorp in the 3rd quarter worth about $51,000. EverSource Wealth Advisors LLC boosted its position in shares of Ameris Bancorp by 432.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,394 shares during the period. Focus Partners Wealth bought a new stake in Ameris Bancorp during the 3rd quarter worth approximately $177,000. Finally, United Services Automobile Association purchased a new stake in shares of Ameris Bancorp in the first quarter worth $243,000. 91.60% of the stock is currently owned by institutional investors.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.