Allspring Global Investments Holdings LLC Decreases Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

Allspring Global Investments Holdings LLC lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,963 shares of the bank’s stock after selling 13,077 shares during the period. Allspring Global Investments Holdings LLC owned about 0.54% of Ameris Bancorp worth $22,625,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after purchasing an additional 509 shares during the period. R Squared Ltd purchased a new stake in Ameris Bancorp in the 4th quarter worth approximately $51,000. GAMMA Investing LLC grew its position in shares of Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after buying an additional 202 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $98,000. Finally, US Bancorp DE raised its holdings in shares of Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock valued at $120,000 after acquiring an additional 1,868 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

ABCB stock opened at $66.12 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a 50 day moving average price of $64.52 and a 200-day moving average price of $63.55. Ameris Bancorp has a 52-week low of $44.22 and a 52-week high of $74.56. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.69 and a beta of 1.06.

Ameris Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. Ameris Bancorp’s payout ratio is presently 15.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABCB. Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. Truist Financial lowered their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, October 28th. Raymond James reiterated an “outperform” rating and set a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.