Ameris Bancorp (ABCB) To Go Ex-Dividend on June 28th

Ameris Bancorp (NASDAQ:ABCB) declared a quarterly dividend on Thursday, June 6th, Wall Street Journal reports. Shareholders 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 yield of 1.25%. The ex-dividend date is Friday, June 28th.

Ameris Bancorp has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 0.4 %

Shares of ABCB stock traded up $0.18 during trading hours on Wednesday, hitting $48.16. 24,512 shares of the company were exchanged, compared to its average volume of 347,019. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04. Ameris Bancorp has a one year low of $33.21 and a one year high of $53.99. The business’s 50-day simple moving average is $48.22 and its two-hundred day simple moving average is $48.57. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.67 and a beta of 1.06.

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

Analyst Ratings Changes

A number of research firms recently commented on ABCB. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Stephens restated an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a report on Friday, April 26th. Piper Sandler increased their target price on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report 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 report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.