FY2024 Earnings Forecast for Ameris Bancorp Issued By DA Davidson (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB) – Research analysts at DA Davidson boosted their FY2024 earnings estimates for Ameris Bancorp in a research report issued on Tuesday, April 30th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $4.75 for the year, up from their previous estimate of $4.65. DA Davidson currently has a “Buy” rating on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.56 per share.

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

Ameris Bancorp Trading Up 2.3 %

Shares of Ameris Bancorp stock opened at $49.82 on Thursday. The company’s fifty day simple moving average is $46.71 and its 200-day simple moving average is $46.44. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 12.12 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Ameris Bancorp has a 1 year low of $28.33 and a 1 year high of $53.99.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. The business had revenue of $267.27 million for the quarter, compared to the consensus estimate of $258.05 million. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. Ameris Bancorp’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. Ameris Bancorp’s payout ratio is presently 14.60%.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of Ameris Bancorp stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total transaction of $355,125.00. Following the completion of the transaction, the insider now directly owns 59,691 shares of the company’s stock, valued at $2,826,368.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Ameris Bancorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,467,880 shares of the bank’s stock valued at $396,171,000 after buying an additional 33,386 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ameris Bancorp by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,193,610 shares of the bank’s stock valued at $222,473,000 after buying an additional 205,750 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Ameris Bancorp by 3.7% in the third quarter. American Century Companies Inc. now owns 2,547,134 shares of the bank’s stock valued at $97,784,000 after buying an additional 90,694 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Ameris Bancorp by 8.7% in the fourth quarter. Independent Advisor Alliance now owns 2,514,293 shares of the bank’s stock valued at $133,383,000 after buying an additional 201,644 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Ameris Bancorp by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,254,903 shares of the bank’s stock valued at $60,712,000 after buying an additional 36,873 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.