Ameris Bancorp (NASDAQ:ABCB – Get Rating) had its price target raised by Truist Financial from $52.00 to $55.00 in a report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the bank's stock.

Separately, Raymond James dropped their target price on Ameris Bancorp from $50.00 to $48.00 and set an outperform rating on the stock in a report on Thursday, July 7th.

Ameris Bancorp Price Performance

NASDAQ ABCB opened at $47.22 on Wednesday. The stock's 50-day moving average price is $45.92 and its two-hundred day moving average price is $44.29. 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 $3.28 billion, a PE ratio of 9.80 and a beta of 1.18. Ameris Bancorp has a 1 year low of $38.22 and a 1 year high of $56.63.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Friday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. Ameris Bancorp's payout ratio is 12.45%.

Institutional Investors Weigh In On Ameris Bancorp

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Ameris Bancorp by 7.4% in the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank's stock valued at $228,235,000 after buying an additional 358,777 shares in the last quarter. State Street Corp boosted its position in Ameris Bancorp by 14.3% during the first quarter. State Street Corp now owns 3,897,720 shares of the bank's stock worth $171,622,000 after purchasing an additional 488,485 shares during the period. Dimensional Fund Advisors LP boosted its position in Ameris Bancorp by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,160,720 shares of the bank's stock worth $138,695,000 after purchasing an additional 162,160 shares during the period. American Century Companies Inc. boosted its position in Ameris Bancorp by 22.5% during the first quarter. American Century Companies Inc. now owns 2,155,800 shares of the bank's stock worth $94,597,000 after purchasing an additional 396,045 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Ameris Bancorp by 16.4% during the second quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank's stock worth $83,761,000 after purchasing an additional 293,289 shares during the period. Institutional investors own 86.79% of the company's stock.

About Ameris Bancorp

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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.

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