Ameris Bancorp (ABCB) to Issue Quarterly Dividend of $0.20 on July 7th

Ameris Bancorp (NASDAQ:ABCB) announced a quarterly dividend on Thursday, June 5th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.20 per share by the bank on Monday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, June 30th.

Ameris Bancorp Trading Up 2.0%

Shares of ABCB stock opened at $61.98 on Friday. Ameris Bancorp has a 52-week low of $45.90 and a 52-week high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market capitalization of $4.27 billion, a PE ratio of 11.90 and a beta of 0.93. The stock has a fifty day simple moving average of $57.98 and a two-hundred day simple moving average of $61.82.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Monday, April 28th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the acquisition, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is owned by insiders.

Institutional Trading of Ameris Bancorp

Several institutional investors have recently added to or reduced their stakes in ABCB. United Services Automobile Association bought a new stake in Ameris Bancorp in the first quarter worth about $243,000. NewEdge Advisors LLC lifted its stake in Ameris Bancorp by 36.7% in the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock worth $671,000 after purchasing an additional 3,129 shares during the last quarter. Royal Bank of Canada lifted its stake in Ameris Bancorp by 9.5% in the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after purchasing an additional 2,546 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ameris Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock worth $2,256,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Ameris Bancorp in the first quarter worth about $10,528,000. Institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ABCB. Stephens reissued an “equal weight” rating and set a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Piper Sandler began coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They set an “overweight” rating and a $74.00 price objective for the company. Piper Sandler Companies increased their price objective on shares of Ameris Bancorp to $74.00 and gave the company a “buy” rating in a report on Monday, April 7th. Finally, Raymond James dropped their price objective on shares of Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

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.