Ameris Bancorp (ABCB) to Release Earnings on Monday

Ameris Bancorp (NASDAQ:ABCB) is anticipated to release its results after the market closes on Monday, October 27th. Analysts expect Ameris Bancorp to post earnings of $1.47 per share and revenue of $306.6840 million for the quarter.

Ameris Bancorp Price Performance

ABCB stock opened at $73.97 on Friday. The company has a market capitalization of $5.07 billion, a P/E ratio of 14.20 and a beta of 0.94. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $76.58. The business has a 50 day simple moving average of $73.32 and a 200-day simple moving average of $66.18. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp announced that its board has authorized a stock buyback plan on Monday, October 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the bank to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Ameris Bancorp’s dividend payout ratio is presently 14.08%.

Analyst Ratings Changes

Separately, DA Davidson upgraded Ameris Bancorp to a “strong-buy” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Ameris Bancorp has a consensus rating of “Buy” and an average price target of $72.14.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cerity Partners LLC raised its position in Ameris Bancorp by 1.2% in the second quarter. Cerity Partners LLC now owns 18,469 shares of the bank’s stock worth $1,195,000 after acquiring an additional 218 shares in the last quarter. Brevan Howard Capital Management LP raised its position in Ameris Bancorp by 122.3% in the second quarter. Brevan Howard Capital Management LP now owns 13,879 shares of the bank’s stock worth $898,000 after acquiring an additional 7,637 shares in the last quarter. Mendon Capital Advisors Corp raised its position in Ameris Bancorp by 4.0% in the second quarter. Mendon Capital Advisors Corp now owns 13,000 shares of the bank’s stock worth $841,000 after acquiring an additional 500 shares in the last quarter. NewEdge Advisors LLC raised its position in Ameris Bancorp by 36.7% in the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock worth $671,000 after acquiring an additional 3,129 shares in the last quarter. Finally, Scott Marsh Financial LLC purchased a new position in Ameris Bancorp in the second quarter worth $625,000. Hedge funds and other institutional investors own 91.60% 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.