DA Davidson Weighs in on Ameris Bancorp Q4 Earnings

Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at DA Davidson issued their Q4 2024 earnings estimates for Ameris Bancorp in a report released on Tuesday, October 29th. DA Davidson analyst M. Navas expects that the bank will earn $1.10 per share for the quarter. DA Davidson currently has a “Buy” rating and a $76.00 target price on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.86 per share.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The company had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. During the same quarter in the prior year, the firm earned $1.16 EPS.

Several other brokerages have also recently issued reports on ABCB. Stephens upped their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a report on Monday, October 28th. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Truist Financial dropped their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Ameris Bancorp Price Performance

ABCB stock opened at $62.10 on Thursday. Ameris Bancorp has a 1 year low of $38.71 and a 1 year high of $66.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market capitalization of $4.29 billion, a PE ratio of 12.94 and a beta of 1.01. The business has a 50 day simple moving average of $61.89 and a 200-day simple moving average of $55.27.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. Ameris Bancorp’s dividend payout ratio is currently 12.50%.

Hedge Funds Weigh In On Ameris Bancorp

A number of hedge funds have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. acquired a new position in Ameris Bancorp during the second quarter worth $33,000. GAMMA Investing LLC lifted its stake in Ameris Bancorp by 66.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after acquiring an additional 326 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after acquiring an additional 509 shares during the period. CWM LLC grew its position in Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after acquiring an additional 329 shares in the last quarter. Finally, US Bancorp DE increased its stake in Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after purchasing an additional 1,868 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.