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

Allspring Global Investments Holdings LLC decreased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 384,040 shares of the bank’s stock after selling 8,547 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ameris Bancorp were worth $23,960,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ABCB. Vanguard Group Inc. increased its position in shares of Ameris Bancorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,467,880 shares of the bank’s stock valued at $396,171,000 after buying an additional 33,386 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Ameris Bancorp by 130.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,169 shares of the bank’s stock valued at $589,000 after buying an additional 6,895 shares in the last quarter. Congress Wealth Management LLC DE increased its position in shares of Ameris Bancorp by 19.5% in the 1st quarter. Congress Wealth Management LLC DE now owns 109,772 shares of the bank’s stock valued at $5,311,000 after buying an additional 17,916 shares in the last quarter. Norden Group LLC bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $278,000. Finally, BNP Paribas Financial Markets increased its position 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 in the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Ameris Bancorp Trading Down 0.3 %

Ameris Bancorp stock opened at $62.72 on Thursday. The firm has a 50-day moving average of $61.36 and a 200-day moving average of $54.53. Ameris Bancorp has a one year low of $34.26 and a one year high of $66.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 15.26 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same period in the prior year, the business posted $0.91 EPS. On average, equities analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Ameris Bancorp’s payout ratio is 14.60%.

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.