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

Ameris Bancorp (NASDAQ:ABCB) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.20 per share by the bank on Monday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, March 31st.

Ameris Bancorp has raised its dividend by an average of 2.7% per year over the last three years. Ameris Bancorp has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ameris Bancorp to earn $5.77 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.9%.

Ameris Bancorp Stock Performance

ABCB opened at $57.13 on Friday. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 10.97 and a beta of 1.02. The business has a 50 day moving average price of $62.67 and a two-hundred day moving average price of $63.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares of the company’s stock, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stephens reaffirmed an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $70.50.

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.