Allspring Global Investments Holdings LLC Sells 13,077 Shares of Ameris Bancorp (NASDAQ:ABCB)

Allspring Global Investments Holdings LLC lessened its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 370,963 shares of the bank's stock after selling 13,077 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.54% of Ameris Bancorp worth $22,625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank's stock worth $44,000 after buying an additional 509 shares during the last quarter. R Squared Ltd purchased a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $51,000. GAMMA Investing LLC boosted its holdings in shares of Ameris Bancorp by 17.9% in the fourth 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 in the fourth quarter worth approximately $98,000. Finally, US Bancorp DE boosted its holdings in shares of Ameris Bancorp by 3,396.4% in the third quarter. US Bancorp DE now owns 1,923 shares of the bank's stock worth $120,000 after buying an additional 1,868 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock traded down $0.59 on Wednesday, hitting $65.91. 261,491 shares of the company traded hands, compared to its average volume of 390,718. The stock has a market capitalization of $4.55 billion, a P/E ratio of 12.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 52 week low of $44.22 and a 52 week high of $74.56. The business has a 50-day simple moving average of $64.46 and a 200 day simple moving average of $63.70.

Ameris Bancorp Increases Dividend

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

About Ameris Bancorp

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.