Ameris Bancorp (NASDAQ:ABCB – Get Rating) announced a quarterly dividend on Wednesday, September 14th, Wall Street Journal reports. Investors of record on Friday, September 30th will be given a dividend of 0.15 per share by the bank on Monday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Thursday, September 29th.
Ameris Bancorp has increased its dividend payment by an average of 14.5% annually over the last three years. Ameris Bancorp has a dividend payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ameris Bancorp to earn $5.37 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 11.2%.
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NASDAQ ABCB traded up $0.33 during trading hours on Wednesday, reaching $47.19. 17,665 shares of the company were exchanged, compared to its average volume of 414,137. Ameris Bancorp has a 1 year low of $38.22 and a 1 year high of $56.63. The business's 50 day simple moving average is $45.80 and its 200-day simple moving average is $44.27. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.27 billion, a P/E ratio of 9.72 and a beta of 1.18.
Ameris Bancorp (NASDAQ:ABCB – Get Rating) last issued its earnings results on Tuesday, July 26th. The bank reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.11. Ameris Bancorp had a net margin of 31.45% and a return on equity of 10.78%. During the same quarter last year, the firm earned $1.25 earnings per share. On average, equities research analysts expect that Ameris Bancorp will post 4.94 earnings per share for the current year.Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ABCB. Quantbot Technologies LP purchased a new position in shares of Ameris Bancorp during the second quarter worth approximately $41,000. Point72 Hong Kong Ltd raised its stake in shares of Ameris Bancorp by 202.5% during the first quarter. Point72 Hong Kong Ltd now owns 2,211 shares of the bank's stock worth $97,000 after acquiring an additional 1,480 shares in the last quarter. Prelude Capital Management LLC purchased a new position in shares of Ameris Bancorp in the second quarter worth $220,000. LPL Financial LLC purchased a new position in shares of Ameris Bancorp in the second quarter worth $220,000. Finally, AQR Capital Management LLC purchased a new position in shares of Ameris Bancorp in the second quarter worth $226,000. 86.79% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ABCB has been the subject of a number of research reports. Raymond James cut their target price on shares of Ameris Bancorp from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday, July 7th. Truist Financial increased their target price on shares of Ameris Bancorp from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday.
About Ameris Bancorp
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Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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