Q2 2024 Earnings Forecast for Ameris Bancorp Issued By DA Davidson (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB) – Equities research analysts at DA Davidson lowered their Q2 2024 earnings per share estimates for Ameris Bancorp in a research note issued to investors on Thursday, June 27th. DA Davidson analyst M. Navas now forecasts that the bank will earn $1.18 per share for the quarter, down from their prior estimate of $1.22. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.59 per share.

Several other analysts have also commented on ABCB. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Truist Financial dropped 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. Piper Sandler increased their target price on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Stephens restated an “equal weight” rating and set a $53.00 price target on shares of Ameris Bancorp in a research report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Ameris Bancorp Price Performance

Shares of ABCB opened at $50.33 on Monday. The company has a market capitalization of $3.48 billion, a P/E ratio of 12.25 and a beta of 1.04. The business’s 50-day moving average is $48.54 and its two-hundred day moving average is $48.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04. Ameris Bancorp has a fifty-two week low of $33.21 and a fifty-two week high of $53.99.

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

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Sunday, June 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Ameris Bancorp’s payout ratio is presently 14.60%.

Institutional Trading of Ameris Bancorp

Several large investors have recently bought and sold shares of the business. Raymond James & Associates grew its position in shares of Ameris Bancorp by 1.4% in the fourth quarter. Raymond James & Associates now owns 16,791 shares of the bank’s stock valued at $891,000 after purchasing an additional 235 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Ameris Bancorp by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,626 shares of the bank’s stock worth $2,740,000 after acquiring an additional 554 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ameris Bancorp by 2.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,112 shares of the bank’s stock worth $1,597,000 after acquiring an additional 619 shares during the period. GAMMA Investing LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter valued at about $31,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Ameris Bancorp by 1.8% in the first quarter. Illinois Municipal Retirement Fund now owns 35,998 shares of the bank’s stock valued at $1,742,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.