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

Allspring Global Investments Holdings LLC decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 3.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 370,963 shares of the bank’s stock after selling 13,077 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ameris Bancorp were worth $22,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in Ameris Bancorp by 105.8% during the 3rd quarter. CWM LLC now owns 2,696 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,386 shares during the last quarter. Blue Trust Inc. lifted 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 valued at $44,000 after purchasing an additional 509 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Ameris Bancorp during the third quarter valued at $233,000. E. Ohman J or Asset Management AB increased its holdings in Ameris Bancorp by 6.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank’s stock worth $2,374,000 after buying an additional 2,200 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Ameris Bancorp by 2.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after buying an additional 258 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

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

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $66.12 on Friday. The stock’s fifty day moving average is $64.52 and its 200 day moving average is $63.55. Ameris Bancorp has a one year low of $44.22 and a one year high of $74.56. 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 stock has a market cap of $4.57 billion, a P/E 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. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. Ameris Bancorp’s payout ratio is 15.36%.

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.