Ameris Bancorp operates as the bank holding company for Ameris Bank that provides 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 Lending Division, SBA Division, and Premium Finance Division. It offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts. The company also provides commercial real estate, residential real estate mortgage, agricultural, and commercial and industrial loans; consumer loans, including motor vehicle, home improvement, and home equity loans, as well as loans secured by savings accounts and small unsecured personal credit lines. In addition, it originates, administers, and services commercial insurance premium loans and small business administration loans. The company operates 165 full service domestic banking offices and 35 mortgage and loan production offices. Ameris Bancorp was founded in 1971 and is headquartered in Atlanta, Georgia.
Wall Street Analysts Forecast Growth
Separately, Raymond James cut their price target on shares of Ameris Bancorp from $50.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, July 7th.
Ameris Bancorp Trading Up 1.8 %
Shares of ABCB traded up $0.85 during mid-day trading on Wednesday, reaching $48.21. The company's stock had a trading volume of 1,029 shares, compared to its average volume of 439,604. The stock has a market cap of $3.35 billion, a PE ratio of 10.07 and a beta of 1.19. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. Ameris Bancorp has a 52 week low of $38.22 and a 52 week high of $56.63. The company's fifty day moving average price is $42.86 and its two-hundred day moving average price is $44.60.
Ameris Bancorp (NASDAQ:ABCB - Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The bank reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.11. Ameris Bancorp had a net margin of 31.45% and a return on equity of 10.78%. During the same period last year, the business posted $1.25 earnings per share. On average, analysts predict that Ameris Bancorp will post 5.01 earnings per share for the current fiscal year.
Ameris Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Thursday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. Ameris Bancorp's dividend payout ratio is currently 12.45%.