Q1 2019 EPS Estimates for Ameris Bancorp Decreased by FIG Partners (ABCB)

Ameris Bancorp (NASDAQ:ABCB) – Investment analysts at FIG Partners lowered their Q1 2019 earnings per share estimates for shares of Ameris Bancorp in a note issued to investors on Friday, September 21st. FIG Partners analyst C. Marinac now forecasts that the bank will earn $0.96 per share for the quarter, down from their previous forecast of $0.97.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, July 27th. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.10). Ameris Bancorp had a net margin of 15.07% and a return on equity of 10.84%. The firm had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $108.92 million.

Several other equities analysts also recently weighed in on ABCB. BidaskClub raised Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. ValuEngine downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Zacks Investment Research downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, June 25th. SunTrust Banks downgraded Ameris Bancorp from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Tuesday, June 26th. Finally, Stephens reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.00.

NASDAQ ABCB opened at $47.45 on Monday. Ameris Bancorp has a 1-year low of $44.75 and a 1-year high of $59.05. The company has a market capitalization of $2.30 billion, a P/E ratio of 19.13 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.69.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.

In related news, Director Elizabeth A. Mccague bought 1,000 shares of the stock in a transaction on Friday, August 24th. The shares were purchased at an average price of $50.05 per share, for a total transaction of $50,050.00. Following the acquisition, the director now owns 5,226 shares in the company, valued at $261,561.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo J. Hill bought 2,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were bought at an average price of $48.38 per share, for a total transaction of $96,760.00. Following the acquisition, the director now owns 18,984 shares in the company, valued at approximately $918,445.92. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Ameris Bancorp by 14.6% during the second quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock worth $297,890,000 after purchasing an additional 710,335 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ameris Bancorp by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,639,172 shares of the bank’s stock worth $87,451,000 after purchasing an additional 24,674 shares during the last quarter. Angelo Gordon & CO. L.P. acquired a new stake in shares of Ameris Bancorp during the second quarter worth $78,187,000. Russell Investments Group Ltd. boosted its holdings in shares of Ameris Bancorp by 40.1% during the first quarter. Russell Investments Group Ltd. now owns 888,654 shares of the bank’s stock worth $47,008,000 after purchasing an additional 254,383 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ameris Bancorp by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock worth $42,901,000 after purchasing an additional 15,052 shares during the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.

About Ameris Bancorp

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.

Further Reading: Book Value Per Share – BVPS

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

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