Ameris Bancorp (NASDAQ:ABCB) – Investment analysts at Piper Sandler issued their Q3 2020 earnings per share (EPS) estimates for Ameris Bancorp in a note issued to investors on Tuesday, July 28th. Piper Sandler analyst C. Whitman expects that the bank will post earnings of $0.80 per share for the quarter. Piper Sandler has a “Overweight” rating and a $29.00 price objective on the stock. Piper Sandler also issued estimates for Ameris Bancorp’s Q4 2020 earnings at $0.88 EPS, FY2020 earnings at $2.85 EPS, Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.82 EPS, Q3 2021 earnings at $0.86 EPS, Q4 2021 earnings at $0.77 EPS and FY2021 earnings at $0.92 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. DA Davidson assumed coverage on Ameris Bancorp in a research note on Thursday, May 21st. They issued a “buy” rating and a $25.00 price target for the company. SunTrust Banks boosted their price target on Ameris Bancorp from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Stephens reaffirmed a “buy” rating and issued a $31.00 price target on shares of Ameris Bancorp in a research note on Friday, April 24th. Finally, ValuEngine raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.17.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Monday, July 27th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $284.77 million during the quarter, compared to analysts’ expectations of $218.95 million. Ameris Bancorp had a net margin of 12.69% and a return on equity of 8.86%. During the same quarter in the previous year, the business posted $0.96 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. acquired a new position in Ameris Bancorp during the first quarter worth about $29,000. Selective Wealth Management Inc. acquired a new position in Ameris Bancorp during the second quarter worth about $47,000. Mutual of America Capital Management LLC raised its stake in Ameris Bancorp by 22.0% during the first quarter. Mutual of America Capital Management LLC now owns 2,860 shares of the bank’s stock worth $68,000 after acquiring an additional 516 shares in the last quarter. Endurance Wealth Management Inc. acquired a new position in Ameris Bancorp during the second quarter worth about $71,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Ameris Bancorp by 15.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,314 shares of the bank’s stock worth $103,000 after acquiring an additional 575 shares in the last quarter. 84.24% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, June 29th. Ameris Bancorp’s payout ratio is 15.79%.
About Ameris Bancorp
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
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