Allspring Global Investments Holdings LLC Sells 8,547 Shares of Ameris Bancorp (NASDAQ:ABCB)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 2.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 384,040 shares of the bank's stock after selling 8,547 shares during the period. Allspring Global Investments Holdings LLC owned 0.56% of Ameris Bancorp worth $23,960,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new stake in Ameris Bancorp during the 1st quarter worth $3,869,000. Quantbot Technologies LP acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at $1,154,000. Seven Eight Capital LP grew its holdings in shares of Ameris Bancorp by 218.6% in the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank's stock valued at $1,082,000 after buying an additional 15,343 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Ameris Bancorp by 181.3% in the 1st quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank's stock valued at $2,517,000 after buying an additional 33,531 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at $460,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Up 0.5 %

ABCB traded up $0.31 during trading on Thursday, hitting $63.03. The company had a trading volume of 510,062 shares, compared to its average volume of 360,075. The company has a market capitalization of $4.36 billion, a PE ratio of 15.34 and a beta of 1.01. Ameris Bancorp has a one year low of $34.26 and a one year high of $66.51. The firm's 50-day moving average price is $61.48 and its 200 day moving average price is $54.59. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The firm had revenue of $436.03 million for the quarter, compared to analysts' expectations of $273.67 million. During the same period in the previous year, the firm posted $0.91 EPS. As a group, equities analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.95%. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABCB. StockNews.com lowered shares of Ameris Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Truist Financial boosted their price target on shares of Ameris Bancorp from $69.00 to $73.00 and gave the company a "buy" rating in a report on Friday, September 20th. DA Davidson boosted their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a "buy" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Finally, Stephens boosted their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an "equal weight" rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and a consensus price target of $67.00.

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.