Ameris Bancorp (NYSE:ABCB) Issues Earnings Results

Ameris Bancorp (NYSE:ABCB) posted its quarterly earnings results on Thursday. The bank reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05, FiscalAI reports. The company had revenue of $320.94 million during the quarter, compared to the consensus estimate of $326.66 million. Ameris Bancorp had a net margin of 21.98% and a return on equity of 10.62%.

Ameris Bancorp Price Performance

Shares of ABCB traded up $1.83 during mid-day trading on Thursday, reaching $82.45. 763,318 shares of the company’s stock were exchanged, compared to its average volume of 503,496. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $83.25 and a two-hundred day simple moving average of $85.39. Ameris Bancorp has a 52-week low of $69.58 and a 52-week high of $93.22. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 14.91 and a beta of 0.96.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is 14.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABCB shares. Piper Sandler lowered their price target on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Truist Financial decreased their target price on Ameris Bancorp from $90.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. Weiss Ratings started coverage on Ameris Bancorp in a report on Wednesday, September 2nd. They issued a “buy (b)” rating on the stock. DA Davidson upped their target price on Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Stephens set a $88.00 price target on Ameris Bancorp in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Ameris Bancorp Company Profile

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.