Ameris Bancorp (NASDAQ:ABCB) Declares $0.20 Quarterly Dividend

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) announced a quarterly dividend on Thursday, June 5th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.20 per share by the bank on Monday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.29%.

Ameris Bancorp Trading Up 1.7%

NASDAQ:ABCB traded up $1.04 during mid-day trading on Friday, hitting $61.82. 24,354 shares of the company's stock were exchanged, compared to its average volume of 430,820. The company has a 50 day simple moving average of $57.88 and a 200-day simple moving average of $61.87. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a fifty-two week low of $45.90 and a fifty-two week high of $74.56. The firm has a market capitalization of $4.26 billion, a P/E ratio of 11.87 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $285.86 million for the quarter, compared to the consensus estimate of $276.06 million. During the same period last year, the company earned $1.10 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABCB shares. Piper Sandler Companies boosted their price target on shares of Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Raymond James cut their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Piper Sandler initiated coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target on the stock. Finally, Stephens restated an "equal weight" rating and issued a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.43.

Insider Buying and Selling

In other news, insider Douglas D. Strange acquired 1,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares of the company's stock, valued at $1,105,000.85. This represents a 5.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. United Services Automobile Association purchased a new position in Ameris Bancorp during the first quarter valued at $243,000. NewEdge Advisors LLC increased its holdings in shares of Ameris Bancorp by 36.7% during the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank's stock valued at $671,000 after acquiring an additional 3,129 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank's stock valued at $1,687,000 after acquiring an additional 2,546 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ameris Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank's stock valued at $2,256,000 after acquiring an additional 1,703 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Ameris Bancorp during the first quarter valued at $10,528,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.