Ameris Bancorp to Issue Quarterly Dividend of $0.10 (ABCB)
Ameris Bancorp (NASDAQ:ABCB) declared a quarterly dividend on Friday, June 23rd, Wall Street Journal reports. Shareholders of record on Friday, June 30th will be given a dividend of 0.10 per share by the bank on Monday, July 10th. This represents a $0.40 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, June 28th.
Ameris Bancorp (NASDAQ ABCB) traded up 0.65% during trading on Friday, reaching $46.40. 277,709 shares of the company’s stock traded hands. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 20.25 and a beta of 1.32. The firm’s 50 day moving average is $45.85 and its 200-day moving average is $45.65. Ameris Bancorp has a 12 month low of $27.92 and a 12 month high of $49.80.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, April 21st. The bank reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $86.84 million. Ameris Bancorp had a net margin of 22.56% and a return on equity of 12.74%. Analysts expect that Ameris Bancorp will post $2.60 EPS for the current fiscal year.
In related news, President Lawton E. Bassett III sold 5,204 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $47.23, for a total transaction of $245,784.92. Following the transaction, the president now owns 32,214 shares in the company, valued at approximately $1,521,467.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Dennis J. Zember, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $47.38, for a total transaction of $710,700.00. Following the transaction, the chief operating officer now owns 148,727 shares in the company, valued at approximately $7,046,685.26. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,860 shares of company stock worth $84,541 and have sold 78,474 shares worth $3,691,854. 3.63% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Ameris Bancorp stock. Teachers Advisors LLC increased its stake in Ameris Bancorp (NASDAQ:ABCB) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,142 shares of the bank’s stock after buying an additional 4,120 shares during the period. Teachers Advisors LLC’s holdings in Ameris Bancorp were worth $3,833,000 as of its most recent filing with the SEC. 84.18% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on ABCB. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research report on Wednesday, May 24th. SunTrust Banks, Inc. upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, April 26th. Finally, Stephens reiterated a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Friday, April 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $49.20.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.