FY2024 EPS Estimates for Ameris Bancorp Boosted by Analyst

Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Ameris Bancorp in a research note issued to investors on Tuesday, October 29th. DA Davidson analyst M. Navas now forecasts that the bank will earn $4.75 per share for the year, up from their previous forecast of $4.65. DA Davidson has a “Buy” rating and a $76.00 price target on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.82 per share. DA Davidson also issued estimates for Ameris Bancorp’s FY2025 earnings at $5.05 EPS.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same period in the prior year, the firm posted $1.16 EPS.

ABCB has been the subject of several other research reports. Truist Financial decreased their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research report on Monday. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Stephens lifted their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Ameris Bancorp Stock Performance

ABCB stock opened at $61.99 on Wednesday. The firm has a market cap of $4.28 billion, a PE ratio of 12.91 and a beta of 1.01. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $61.82 and a 200-day moving average price of $55.11. Ameris Bancorp has a 1-year low of $36.81 and a 1-year high of $66.51.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is 12.50%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in Ameris Bancorp by 75.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock valued at $20,153,000 after purchasing an additional 178,500 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ameris Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock valued at $365,771,000 after buying an additional 92,491 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Ameris Bancorp during the first quarter worth $3,869,000. Edgestream Partners L.P. raised its position in Ameris Bancorp by 164.8% in the 1st quarter. Edgestream Partners L.P. now owns 119,164 shares of the bank’s stock valued at $5,765,000 after buying an additional 74,165 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Ameris Bancorp by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after acquiring an additional 55,473 shares in the last quarter. 91.64% 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 range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.