Ameris Bancorp (NASDAQ:ABCB) declared a quarterly dividend on Wednesday, June 17th, Wall Street Journal reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.15 per share by the bank on Friday, July 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 29th.
Ameris Bancorp has increased its dividend by an average of 50.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Ameris Bancorp has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ameris Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 22.6%.
Shares of ABCB opened at $21.28 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 1.08. Ameris Bancorp has a fifty-two week low of $17.12 and a fifty-two week high of $44.90. The firm has a 50-day simple moving average of $23.63 and a 200-day simple moving average of $31.67. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.15 and a beta of 1.48.
ABCB has been the topic of several recent research reports. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. ValuEngine upgraded shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Zacks Investment Research upgraded shares of Ameris Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks boosted their target price on Ameris Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Stephens reissued a “buy” rating and set a $31.00 target price on shares of Ameris Bancorp in a research note on Friday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Ameris Bancorp presently has an average rating of “Buy” and an average target price of $36.60.
About Ameris Bancorp
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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