Ameris Bancorp (NASDAQ:ABCB) Expected to Post Quarterly Sales of $213.83 Million
Analysts forecast that Ameris Bancorp (NASDAQ:ABCB) will announce $213.83 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Ameris Bancorp’s earnings, with estimates ranging from $210.00 million to $221.40 million. Ameris Bancorp posted sales of $130.02 million in the same quarter last year, which suggests a positive year over year growth rate of 64.5%. The business is expected to announce its next earnings report after the market closes on Thursday, January 23rd.
On average, analysts expect that Ameris Bancorp will report full year sales of $706.13 million for the current financial year, with estimates ranging from $698.60 million to $716.80 million. For the next year, analysts forecast that the firm will report sales of $867.20 million, with estimates ranging from $845.90 million to $889.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Ameris Bancorp.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Ameris Bancorp had a return on equity of 11.71% and a net margin of 19.46%. The firm had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $213.84 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 74.8% on a year-over-year basis.
NASDAQ:ABCB traded down $0.35 during trading hours on Friday, reaching $42.47. 1,445 shares of the stock were exchanged, compared to its average volume of 294,122. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $43.19 and a two-hundred day moving average of $40.34. Ameris Bancorp has a twelve month low of $32.91 and a twelve month high of $44.90. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 12.56 and a beta of 1.47.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, December 30th. Ameris Bancorp’s dividend payout ratio is currently 17.75%.
In other news, insider James A. Lahaise sold 37,781 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $43.00, for a total transaction of $1,624,583.00. Following the sale, the insider now owns 45,859 shares of the company’s stock, valued at $1,971,937. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. increased its position in shares of Ameris Bancorp by 11.1% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 19,512 shares of the bank’s stock worth $830,000 after acquiring an additional 1,945 shares during the period. BT Wealth Management LLC purchased a new position in Ameris Bancorp in the fourth quarter valued at $382,000. Metropolitan Life Insurance Co NY increased its holdings in Ameris Bancorp by 46.3% in the third quarter. Metropolitan Life Insurance Co NY now owns 19,283 shares of the bank’s stock valued at $776,000 after buying an additional 6,102 shares during the last quarter. Millennium Management LLC purchased a new position in Ameris Bancorp in the third quarter valued at $1,012,000. Finally, Man Group plc increased its holdings in Ameris Bancorp by 345.7% in the third quarter. Man Group plc now owns 91,988 shares of the bank’s stock valued at $3,701,000 after buying an additional 71,351 shares during the last quarter. 82.28% of the stock is currently owned by institutional investors and hedge funds.
Ameris Bancorp Company Profile
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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