Ameris Bancorp Announces Quarterly Dividend of $0.15 (NASDAQ:ABCB)
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) announced a quarterly dividend on Tuesday, December 19th, Wall Street Journal reports. Shareholders of record on Sunday, December 31st will be given a dividend of 0.15 per share by the bank on Monday, January 8th. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, December 28th.
Ameris Bancorp has raised its dividend by an average of 6.3% annually over the last three years. Ameris Bancorp has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameris Bancorp to earn $4.58 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 13.1%.
Ameris Bancorp Stock Performance
Shares of ABCB traded up $1.05 during mid-day trading on Tuesday, hitting $52.48. The stock had a trading volume of 629,733 shares, compared to its average volume of 420,994. The company has a market cap of $3.62 billion, a PE ratio of 12.67 and a beta of 1.18. The company’s fifty day simple moving average is $41.79 and its two-hundred day simple moving average is $39.64. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. Ameris Bancorp has a fifty-two week low of $28.33 and a fifty-two week high of $53.35.
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Ameris Bancorp had a return on equity of 8.68% and a net margin of 19.59%. The business had revenue of $393.73 million during the quarter, compared to analyst estimates of $274.65 million. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, equities analysts expect that Ameris Bancorp will post 4.06 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. StockNews.com assumed coverage on Ameris Bancorp in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Truist Financial dropped their price objective on Ameris Bancorp from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, September 27th. Finally, DA Davidson raised Ameris Bancorp from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and an average target price of $46.60.
Read Our Latest Stock Report on Ameris Bancorp
Hedge Funds Weigh In On Ameris Bancorp
Institutional investors have recently modified their holdings of the company. LPL Financial LLC bought a new position in Ameris Bancorp during the second quarter worth $220,000. KLR Investment Advisors LLC bought a new position in Ameris Bancorp during the first quarter worth $217,000. Advisor Group Holdings Inc. increased its position in Ameris Bancorp by 21.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,474 shares of the bank’s stock worth $211,000 after acquiring an additional 784 shares during the period. WINTON GROUP Ltd bought a new position in Ameris Bancorp during the first quarter worth $204,000. Finally, Ameritas Investment Partners Inc. increased its position in Ameris Bancorp by 5.4% during the second quarter. Ameritas Investment Partners Inc. now owns 5,470 shares of the bank’s stock worth $187,000 after acquiring an additional 280 shares during the period. Institutional investors own 90.98% of the company’s stock.
About Ameris Bancorp (Get Free Report)
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. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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Original: MarketBeat News Feed: Ameris Bancorp Announces Quarterly Dividend of $0.15 (NASDAQ:ABCB)