$109.91 Million in Sales Expected for Ameris Bancorp (ABCB) This Quarter

Analysts predict that Ameris Bancorp (NASDAQ:ABCB) will post sales of $109.91 million for the current quarter, according to Zacks. Three analysts have issued estimates for Ameris Bancorp’s earnings, with estimates ranging from $109.20 million to $110.60 million. Ameris Bancorp reported sales of $91.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The company is expected to announce its next earnings results on Friday, July 20th.

According to Zacks, analysts expect that Ameris Bancorp will report full-year sales of $475.23 million for the current year, with estimates ranging from $469.10 million to $482.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $591.30 million per share, with estimates ranging from $569.20 million to $620.70 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Ameris Bancorp.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, April 20th. The bank reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.05). Ameris Bancorp had a return on equity of 12.09% and a net margin of 19.19%. The firm had revenue of $95.27 million during the quarter, compared to the consensus estimate of $100.49 million.

ABCB has been the subject of a number of research reports. SunTrust Banks raised their price objective on Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. BidaskClub downgraded Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 27th. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Stephens reiterated a “buy” rating on shares of Ameris Bancorp in a research report on Monday, April 23rd. Finally, Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $55.00.

In related news, President Lawton E. Bassett III sold 823 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.15, for a total transaction of $43,742.45. Following the completion of the transaction, the president now owns 19,408 shares in the company, valued at approximately $1,031,535.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edwin W. Hortman, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,159 shares of company stock valued at $2,301,596 in the last 90 days. 3.07% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of Ameris Bancorp during the 4th quarter worth approximately $1,222,000. Allianz Asset Management GmbH lifted its position in shares of Ameris Bancorp by 6.0% during the 4th quarter. Allianz Asset Management GmbH now owns 271,566 shares of the bank’s stock worth $13,090,000 after buying an additional 15,283 shares during the period. Aperio Group LLC lifted its position in shares of Ameris Bancorp by 145.0% during the 4th quarter. Aperio Group LLC now owns 10,436 shares of the bank’s stock worth $503,000 after buying an additional 6,177 shares during the period. Swiss National Bank lifted its position in shares of Ameris Bancorp by 4.2% during the 4th quarter. Swiss National Bank now owns 64,764 shares of the bank’s stock worth $3,122,000 after buying an additional 2,600 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Ameris Bancorp by 11.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 22,239 shares of the bank’s stock worth $1,072,000 after buying an additional 2,362 shares during the period. Institutional investors and hedge funds own 85.86% of the company’s stock.

Shares of ABCB stock traded down $0.35 during mid-day trading on Monday, reaching $54.80. The stock had a trading volume of 123,700 shares, compared to its average volume of 223,563. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.74. Ameris Bancorp has a one year low of $54.60 and a one year high of $55.20. The company has a market capitalization of $2.11 billion, a P/E ratio of 22.10 and a beta of 1.23.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.

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Earnings History and Estimates for Ameris Bancorp (NASDAQ:ABCB)

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