Q3 2018 EPS Estimates for Ameris Bancorp Raised by FIG Partners (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Analysts at FIG Partners increased their Q3 2018 earnings per share estimates for Ameris Bancorp in a research report issued to clients and investors on Monday. FIG Partners analyst C. Marinac now expects that the bank will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.82. FIG Partners also issued estimates for Ameris Bancorp’s Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.14 EPS, Q3 2019 earnings at $0.95 EPS and FY2019 earnings at $3.70 EPS.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%.
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A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Piper Jaffray Companies set a $48.00 price objective on shares of Ameris Bancorp and gave the company a “hold” rating in a report on Friday, October 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, October 26th. Stephens reiterated a “buy” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, September 28th. Finally, BidaskClub lowered shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.25.
Shares of Ameris Bancorp (NASDAQ ABCB) traded up $0.90 during midday trading on Tuesday, reaching $47.70. 574,100 shares of the company were exchanged, compared to its average volume of 192,075. The company has a market cap of $1,750.00, a price-to-earnings ratio of 18.87 and a beta of 1.19. Ameris Bancorp has a 1-year low of $41.05 and a 1-year high of $51.28. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11.
In other news, Director Leo J. Hill purchased 1,000 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the acquisition, the director now owns 16,629 shares in the company, valued at $710,889.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.63% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in ABCB. Vanguard Group Inc. increased its stake in shares of Ameris Bancorp by 47.6% in the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock valued at $116,312,000 after acquiring an additional 813,184 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Ameris Bancorp by 228.9% in the 3rd quarter. Oak Ridge Investments LLC now owns 542,628 shares of the bank’s stock valued at $26,046,000 after acquiring an additional 377,628 shares in the last quarter. State Street Corp increased its stake in shares of Ameris Bancorp by 20.1% in the 1st quarter. State Street Corp now owns 1,173,810 shares of the bank’s stock valued at $54,115,000 after acquiring an additional 196,240 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $8,570,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Ameris Bancorp by 169.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,584 shares of the bank’s stock valued at $6,687,000 after acquiring an additional 87,876 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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