Ameris Bancorp (ABCB) to Issue Quarterly Dividend of $0.15 on July 8th

Ameris Bancorp (NASDAQ:ABCB) announced a quarterly dividend on Thursday, June 6th, Wall Street Journal reports. Stockholders of record on Sunday, June 30th will be given a dividend of 0.15 per share by the bank on Monday, July 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, June 28th.

Ameris Bancorp has a payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ameris Bancorp to earn $4.89 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 12.3%.

Ameris Bancorp Stock Up 0.3 %

NASDAQ:ABCB traded up $0.12 on Wednesday, hitting $48.10. 25,812 shares of the company’s stock traded hands, compared to its average volume of 347,041. The firm has a 50-day moving average price of $48.22 and a 200-day moving average price of $48.57. Ameris Bancorp has a 1 year low of $33.21 and a 1 year high of $53.99. The company has a market cap of $3.32 billion, a PE ratio of 11.67 and a beta of 1.06. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The business had revenue of $267.27 million during the quarter, compared to analyst estimates of $258.05 million. During the same period in the previous year, the company earned $0.86 EPS. The firm’s revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Ameris Bancorp will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Stephens reissued an “equal weight” rating and set a $53.00 price target on shares of Ameris Bancorp in a report on Friday, April 26th. Piper Sandler upped their price objective on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, Truist Financial cut their target price on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.00.

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.