Ameris Bancorp Inc (NASDAQ:ABCB) will issue a quarterly dividend of $0.15
Ameris Bancorp (NASDAQ:ABCB – Get Rating) declared a quarterly dividend on Tuesday, June 14, The Wall Street Journal reports. Shareholders of record on Thursday, June 30 will receive a dividend of 0.15 per share from the bank on Friday, July 8. This represents an annualized dividend of $0.60 and a yield of 1.43%. The ex-dividend date is Wednesday, June 29.
Ameris Bancorp has increased its dividend payout by an average of 14.5% per year over the past three years. Ameris Bancorp has a dividend payout ratio of 11.7%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Ameris Bancorp to earn $5.14 per share next year, meaning the company should continue to be able to cover its $0.60 annual dividend. with an expected future payout ratio of 11.7%.
NASDAQ:ABCB rose $0.64 during trading hours on Tuesday, hitting $41.85. The stock recorded trading volume of 288,278 shares, compared to an average trading volume of 460,134 shares. The company has a 50-day simple moving average of $42.84 and a two-hundred-day simple moving average of $46.92. The company has a debt ratio of 0.18, a current ratio of 1.06 and a quick ratio of 1.01. Ameris Bancorp has a one-year low of $39.67 and a one-year high of $56.63. The company has a market capitalization of $2.91 billion, a price-earnings ratio of 8.60 and a beta of 1.13.
Ameris Bancorp (NASDAQ:ABCB – Get Rating) last released quarterly earnings data on Tuesday, April 26. The bank reported earnings per share (EPS) of $1.08 for the quarter, meeting analyst consensus estimates of $1.08. Ameris Bancorp had a net margin of 31.99% and a return on equity of 11.20%. The company posted revenue of $259.50 million in the quarter, versus a consensus estimate of $238.97 million. During the same period a year earlier, the company posted EPS of $1.66. The company’s revenue decreased by 8.3% compared to the same quarter last year. Equity research analysts expect Ameris Bancorp to post earnings per share of 4.78 for the current year.
Separately, StockNews.com launched coverage on Ameris Bancorp shares in a research report on Thursday, March 31. They issued a “hold” rating on the stock.
Hedge funds and other institutional investors have recently changed their positions in the stock. Marshall Wace LLP purchased a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $1,458,000. Hsbc Holdings PLC increased its position in Ameris Bancorp shares by 88.2% during the first quarter. Hsbc Holdings PLC now owns 29,667 shares of the bank valued at $1,312,000 after purchasing an additional 13,901 shares during the period. Bank of Montreal Can increased its position in Ameris Bancorp shares by 2.0% during the first quarter. Bank of Montreal Can now owns 27,723 shares of the bank valued at $1,283,000 after purchasing an additional 554 shares during the period. Renaissance Technologies LLC purchased a new stock position in Ameris Bancorp during the first quarter worth approximately $1,047,000. Finally, Raymond James & Associates increased its position in Ameris Bancorp shares by 21.3% during the first quarter. Raymond James & Associates now owns 20,411 shares of the bank valued at $896,000 after purchasing an additional 3,580 shares during the period. Institutional investors hold 88.23% of the company’s shares.
Ameris Bancorp Company Profile (Get an evaluation)
Ameris Bancorp operates as a bank holding company for Ameris Bank which provides a 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 Loan Division, SBA Division and Premium Finance Division.
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