DA Davidson Weighs in on Ameris Bancorp Q4 Earnings

Ameris Bancorp (NASDAQ:ABCB) – DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Ameris Bancorp in a research note issued on Tuesday, October 29th. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $1.10 per share for the quarter. DA Davidson currently has a “Buy” rating and a $76.00 target price on the stock. The consensus estimate for Ameris Bancorp’s current full-year earnings is $4.86 per share.

A number of other analysts have also recently weighed in on ABCB. Truist Financial cut their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Stephens raised their price objective on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Raymond James upgraded 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, October 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $62.10 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $61.89 and a 200-day simple moving average of $55.27. The stock has a market cap of $4.29 billion, a P/E ratio of 12.94 and a beta of 1.01. Ameris Bancorp has a 12-month low of $38.71 and a 12-month high of $66.51.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The company had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. During the same quarter in the previous year, the firm earned $1.16 earnings per share.

Institutional Investors Weigh In On Ameris Bancorp

Several large investors have recently modified their holdings of ABCB. Jupiter Asset Management Ltd. purchased a new stake in Ameris Bancorp in the 1st quarter valued at $3,869,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameris Bancorp by 75.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after buying an additional 178,500 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Ameris Bancorp during the first quarter worth about $1,154,000. Seven Eight Capital LP grew its holdings in shares of Ameris Bancorp by 218.6% during the first quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock worth $1,082,000 after buying an additional 15,343 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Ameris Bancorp by 181.3% in the 1st quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock valued at $2,517,000 after acquiring an additional 33,531 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Dividend Announcement

The company 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 yield of 0.97%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s dividend payout ratio is currently 12.50%.

About Ameris Bancorp

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.