Zacks: Analysts Expect Ameris Bancorp (ABCB) Will Announce Quarterly Sales of $100.49 Million

Wall Street analysts expect Ameris Bancorp (NASDAQ:ABCB) to post $100.49 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ameris Bancorp’s earnings, with the lowest sales estimate coming in at $99.48 million and the highest estimate coming in at $101.50 million. Ameris Bancorp reported sales of $86.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.4%. The firm is expected to report its next earnings results on Friday, April 20th.

According to Zacks, analysts expect that Ameris Bancorp will report full year sales of $100.49 million for the current year, with estimates ranging from $445.00 million to $484.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $553.00 million per share, with estimates ranging from $505.10 million to $600.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ameris Bancorp.

How to Become a New Pot Stock Millionaire

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, January 26th. The bank reported $0.63 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 3.1% on a year-over-year basis.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Tuesday, January 9th. SunTrust Banks raised their price objective on shares of Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 29th. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ameris Bancorp has an average rating of “Buy” and an average price target of $55.33.

Shares of NASDAQ ABCB traded down $1.90 during midday trading on Tuesday, hitting $52.00. The company had a trading volume of 210,166 shares, compared to its average volume of 247,484. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $59.05. The stock has a market capitalization of $1,992.85, a price-to-earnings ratio of 20.97 and a beta of 1.21.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.40 annualized dividend and a yield of 0.77%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 16.13%.

In other Ameris Bancorp news, insider Edwin W. Hortman, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dennis J. Zember, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $54.81, for a total transaction of $274,050.00. Following the transaction, the chief operating officer now owns 156,063 shares of the company’s stock, valued at $8,553,813.03. The disclosure for this sale can be found here. Insiders have sold a total of 46,159 shares of company stock valued at $2,575,646 over the last 90 days. 3.63% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,002 shares in the last quarter. Elkfork Partners LLC purchased a new position in Ameris Bancorp during the 4th quarter valued at about $246,000. SG Americas Securities LLC purchased a new position in Ameris Bancorp during the 3rd quarter valued at about $285,000. Flinton Capital Management LLC increased its holdings in Ameris Bancorp by 19.0% during the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after acquiring an additional 986 shares in the last quarter. Finally, Virtus Fund Advisers LLC grew its holdings in shares of Ameris Bancorp by 20.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 6,334 shares of the bank’s stock worth $306,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 83.25% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3341632/zacks-analysts-expect-ameris-bancorp-abcb-will-announce-quarterly-sales-of-100-49-million.html.

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.

Get a free copy of the Zacks research report on Ameris Bancorp (ABCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Jabil  Receiving Somewhat Favorable Media Coverage, Report Shows
Jabil Receiving Somewhat Favorable Media Coverage, Report Shows
Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Sterling Bancorp  Stock Price
Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Sterling Bancorp Stock Price
Somewhat Favorable News Coverage Somewhat Unlikely to Impact Pinnacle Financial Partners  Share Price
Somewhat Favorable News Coverage Somewhat Unlikely to Impact Pinnacle Financial Partners Share Price
BidaskClub Downgrades Lands’ End  to Hold
BidaskClub Downgrades Lands’ End to Hold
NXP Semiconductors  Rating Lowered to Strong Sell at BidaskClub
NXP Semiconductors Rating Lowered to Strong Sell at BidaskClub
Pool  Stock Rating Lowered by BidaskClub
Pool Stock Rating Lowered by BidaskClub


© 2006-2018 Ticker Report. Google+.