Ameris Bancorp (NASDAQ:ABCB) to Issue Quarterly Dividend of $0.15

Ameris Bancorp (NASDAQ:ABCB) declared a quarterly dividend on Thursday, March 14th, investing.com reports. Investors of record on Sunday, March 31st will be paid a dividend of 0.15 per share by the bank on Monday, April 8th. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date is Wednesday, March 27th.

Ameris Bancorp has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameris Bancorp to earn $4.84 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 12.4%.

Ameris Bancorp Trading Up 0.1 %

Ameris Bancorp stock traded up $0.07 during trading hours on Tuesday, reaching $46.92. 9,498 shares of the company’s stock traded hands, compared to its average volume of 402,768. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03. Ameris Bancorp has a fifty-two week low of $28.33 and a fifty-two week high of $53.99. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.01 and a beta of 1.04. The firm’s 50 day moving average is $48.01 and its 200-day moving average is $44.85.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, January 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.05). Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. The business had revenue of $262.35 million for the quarter, compared to analyst estimates of $267.23 million. On average, analysts predict that Ameris Bancorp will post 4.46 earnings per share for the current year.

Insider Transactions at Ameris Bancorp

In other news, insider Jon S. Edwards sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the sale, the insider now owns 59,691 shares of the company’s stock, valued at approximately $2,826,368.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. LPL Financial LLC acquired a new stake in shares of Ameris Bancorp during the second quarter valued at about $220,000. KLR Investment Advisors LLC acquired a new position in shares of Ameris Bancorp in the first quarter worth approximately $217,000. Advisor Group Holdings Inc. lifted its stake in shares of Ameris Bancorp by 21.2% in 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 acquired a new position in shares of Ameris Bancorp in the first quarter worth approximately $204,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Ameris Bancorp by 5.4% in 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 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABCB. Stephens reaffirmed an “equal weight” rating and issued a $53.00 price target on shares of Ameris Bancorp in a research note on Tuesday, January 30th. StockNews.com cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, DA Davidson reissued a “buy” rating on shares of Ameris Bancorp in a research note on Monday, January 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.00.

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.