Ameris Bancorp (ABCB) Declares $0.15 Dividend

Ameris Bancorp said on March 17, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Previously, the company paid $0.15 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 10, 2023.

At the current share price of $36.04 / share, the stock's dividend yield is 1.66%. Looking back five years and taking a sample every week, the average dividend yield has been 1.37%, the lowest has been 0.69%, and the highest has been 3.17%. The standard deviation of yields is 0.52 (n=237).

The current dividend yield is 0.57 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 56.51% Upside

As of March 19, 2023, the average one-year price target for Ameris Bancorp is $56.41. The forecasts range from a low of $52.52 to a high of $63.00. The average price target represents an increase of 56.51% from its latest reported closing price of $36.04.

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The projected annual revenue for Ameris Bancorp is $1,180MM, an increase of 18.95%. The projected annual non-GAAP EPS is $5.49.

What is the Fund Sentiment?

There are 657 funds or institutions reporting positions in Ameris Bancorp. This is an increase of 33 owner(s) or 5.29% in the last quarter. Average portfolio weight of all funds dedicated to ABCB is 0.28%, an increase of 6.94%. Total shares owned by institutions increased in the last three months by 2.87% to 75,414K shares. The put/call ratio of ABCB is 0.06, indicating a bullish outlook.

What are Large Shareholders Doing?

Wellington Management Group Llp holds 6,102K shares representing 8.82% ownership of the company. In it's prior filing, the firm reported owning 6,317K shares, representing a decrease of 3.51%. The firm decreased its portfolio allocation in ABCB by 99.99% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 4,767K shares representing 6.89% ownership of the company. In it's prior filing, the firm reported owning 4,751K shares, representing an increase of 0.34%. The firm decreased its portfolio allocation in ABCB by 3.75% over the last quarter.

Principal Financial Group holds 2,026K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 2,128K shares, representing a decrease of 5.05%. The firm decreased its portfolio allocation in ABCB by 48.52% over the last quarter.

American Century Companies holds 2,019K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 2,334K shares, representing a decrease of 15.60%. The firm decreased its portfolio allocation in ABCB by 15.33% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,996K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 1,991K shares, representing an increase of 0.21%. The firm decreased its portfolio allocation in ABCB by 2.43% over the last quarter.

Ameris Bancorp Background Information
(This description is provided by the company.)

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. The Company's banking subsidiary, Ameris Bank, had 164 locations in Georgia, Florida, South Carolina and Alabama at the end of the most recent quarter.

This story originally appeared on Fintel.