Principal Financial Group Inc. Has $75.72 Million Holdings in Ameris Bancorp (NASDAQ:ABCB)

Principal Financial Group Inc. decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,210,170 shares of the bank’s stock after selling 53,317 shares during the quarter. Principal Financial Group Inc.’s holdings in Ameris Bancorp were worth $75,721,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in Ameris Bancorp in the 4th quarter valued at approximately $10,856,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock valued at $56,596,000 after purchasing an additional 79,060 shares during the last quarter. Barclays PLC lifted its position in shares of Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock worth $8,735,000 after purchasing an additional 72,599 shares in the last quarter. Point72 Asset Management L.P. grew its position in Ameris Bancorp by 135.5% in the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock worth $4,292,000 after buying an additional 66,000 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Down 0.9 %

ABCB opened at $65.91 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $64.43 and its 200 day simple moving average is $63.71. Ameris Bancorp has a 1-year low of $44.22 and a 1-year high of $74.56. The stock has a market cap of $4.55 billion, a PE ratio of 12.65 and a beta of 1.06.

Ameris Bancorp Increases Dividend

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