Allspring Global Investments Holdings LLC Purchases 17,507 Shares of Ameris Bancorp $ABCB

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Ameris Bancorp by 4.7%, acquiring an additional 17,507 shares, bringing its total ownership to approximately 392,213 shares valued at $26 million.
• Ameris Bancorp recently declared a quarterly dividend of $0.20 per share, translating to a 1.2% yield and an annualized payout of $0.80.
• Analysts have rated Ameris Bancorp positively with a consensus price target of $72.14, signaling a "Moderate Buy" based on its recent performance in the stock market.

Allspring Global Investments Holdings LLC raised its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,213 shares of the bank's stock after buying an additional 17,507 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.57% of Ameris Bancorp worth $26,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ABCB. Nuveen LLC bought a new stake in shares of Ameris Bancorp in the first quarter valued at $56,202,000. FJ Capital Management LLC grew its position in shares of Ameris Bancorp by 311.3% in the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock valued at $45,209,000 after purchasing an additional 594,340 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ameris Bancorp by 36.2% in the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock valued at $107,955,000 after purchasing an additional 498,604 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Ameris Bancorp in the second quarter valued at $21,850,000. Finally, Jennison Associates LLC grew its position in shares of Ameris Bancorp by 189.7% in the first quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock valued at $28,940,000 after purchasing an additional 329,196 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $69.20 on Friday. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $76.58. The business has a 50-day simple moving average of $72.93 and a 200 day simple moving average of $65.37. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 13.28 and a beta of 0.94.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 6th. Investors of record on Tuesday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 30th. Ameris Bancorp's payout ratio is presently 14.08%.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $81.00 price target on Ameris Bancorp and gave the company a "buy" rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Ameris Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $72.14.

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.

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