Ameris Bancorp (ABCB) Expected to Post Quarterly Sales of $132.23 Million

Equities research analysts expect that Ameris Bancorp (NASDAQ:ABCB) will announce $132.23 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ameris Bancorp’s earnings, with the lowest sales estimate coming in at $131.00 million and the highest estimate coming in at $133.10 million. Ameris Bancorp reported sales of $93.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 42%. The firm is expected to announce its next earnings results on Friday, January 25th.

According to Zacks, analysts expect that Ameris Bancorp will report full-year sales of $466.03 million for the current financial year, with estimates ranging from $462.69 million to $468.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $557.37 million, with estimates ranging from $545.00 million to $565.60 million. Zacks’ sales averages are an average based on a survey of research firms that cover Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. Ameris Bancorp had a net margin of 17.99% and a return on equity of 11.14%. The firm had revenue of $129.21 million for the quarter, compared to analyst estimates of $135.44 million.

ABCB has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. BidaskClub lowered shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. Piper Jaffray Companies set a $50.00 price objective on shares of Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, November 26th. TheStreet raised shares of Ameris Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, November 13th. Finally, ValuEngine lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.00.

Several large investors have recently bought and sold shares of ABCB. BlueMountain Capital Management LLC acquired a new position in shares of Ameris Bancorp during the 3rd quarter valued at $102,000. SeaCrest Wealth Management LLC acquired a new position in shares of Ameris Bancorp during the 2nd quarter valued at $163,000. First Interstate Bank lifted its position in shares of Ameris Bancorp by 37.3% during the 3rd quarter. First Interstate Bank now owns 5,765 shares of the bank’s stock valued at $263,000 after acquiring an additional 1,565 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Ameris Bancorp during the 3rd quarter valued at $263,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Ameris Bancorp during the 2nd quarter valued at $295,000. 77.85% of the stock is currently owned by institutional investors.

ABCB traded up $0.16 during trading on Monday, reaching $42.83. 235,594 shares of the company’s stock were exchanged, compared to its average volume of 229,758. Ameris Bancorp has a one year low of $39.34 and a one year high of $59.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 0.99. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 17.27 and a beta of 1.16.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

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