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.
Analyst Ratings Changes
Separately, Raymond James reduced their price objective on 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 Price Performance
Shares of ABCB traded up $0.63 during trading hours on Thursday, reaching $50.62. 1,204 shares of the stock traded hands, compared to its average volume of 290,967. Ameris Bancorp has a 52-week low of $38.22 and a 52-week high of $56.63. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. The company has a market cap of $3.51 billion, a P/E ratio of 10.37 and a beta of 1.19. The company's 50-day moving average price is $43.34 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 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. Ameris Bancorp had a return on equity of 10.78% and a net margin of 31.45%. During the same period in the prior year, the business earned $1.25 EPS. On average, analysts anticipate that Ameris Bancorp will post 4.94 earnings per share for the current year.
Ameris Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Thursday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, June 29th. Ameris Bancorp's dividend payout ratio (DPR) is presently 12.45%.