Ameris Bancorp (NASDAQ:ABCB) to Issue $0.20 Quarterly Dividend

Key Points

• Ameris Bancorp has declared a quarterly dividend of $0.20 per share, payable on October 6th to stockholders of record by September 30th.
• The company's stock is currently trading at $74.02, with a 52-week high of $75.46 and a market capitalization of $5.08 billion.
• Analysts rate Ameris Bancorp as a "Moderate Buy" with a consensus price target of $72.14, indicating positive growth expectations for the stock.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) announced a quarterly dividend on Monday, September 15th, RTT News reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.20 per share by the bank on Monday, October 6th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 30th.

Ameris Bancorp Trading Down 0.8%

NASDAQ ABCB traded down $0.60 during trading hours on Friday, hitting $75.81. 1,225,337 shares of the company's stock were exchanged, compared to its average volume of 428,940. The stock has a 50-day simple moving average of $70.38 and a 200 day simple moving average of $63.30. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $76.58. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 14.55 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Ameris Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Ameris Bancorp by 10.8% in the second quarter. American Century Companies Inc. now owns 2,077,359 shares of the bank's stock valued at $134,405,000 after acquiring an additional 202,165 shares during the period. Geode Capital Management LLC grew its stake in Ameris Bancorp by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,573,486 shares of the bank's stock valued at $101,815,000 after acquiring an additional 11,909 shares during the period. JPMorgan Chase & Co. grew its stake in Ameris Bancorp by 67.4% in the second quarter. JPMorgan Chase & Co. now owns 1,218,958 shares of the bank's stock valued at $78,867,000 after acquiring an additional 490,602 shares during the period. Nuveen LLC acquired a new stake in Ameris Bancorp in the first quarter valued at approximately $56,202,000. Finally, Congress Asset Management Co. grew its stake in Ameris Bancorp by 1.0% in the second quarter. Congress Asset Management Co. now owns 943,041 shares of the bank's stock valued at $61,015,000 after acquiring an additional 9,548 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

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.