Jupiter Topco LLC Purchases Shares of 256,639 Ameris Bancorp $ABCB

Jupiter Topco LLC acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 256,639 shares of the bank’s stock, valued at approximately $23,167,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Ameris Bancorp in the second quarter valued at approximately $881,798,000. North Reef Capital Management LP boosted its holdings in shares of Ameris Bancorp by 25.1% in the 1st quarter. North Reef Capital Management LP now owns 3,423,243 shares of the bank’s stock worth $266,979,000 after acquiring an additional 686,215 shares in the last quarter. State Street Corp grew its position in Ameris Bancorp by 0.4% during the 4th quarter. State Street Corp now owns 3,199,365 shares of the bank’s stock worth $238,250,000 after acquiring an additional 12,475 shares during the last quarter. Nuveen LLC grew its position in Ameris Bancorp by 1.4% during the 4th quarter. Nuveen LLC now owns 1,083,272 shares of the bank’s stock worth $80,455,000 after acquiring an additional 14,735 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Ameris Bancorp by 9.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,057,347 shares of the bank’s stock valued at $82,463,000 after purchasing an additional 90,883 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABCB shares. DA Davidson lifted their price objective on Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Truist Financial decreased their target price on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Stephens set a $88.00 price target on Ameris Bancorp in a report on Monday, July 27th. Finally, Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.67.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $85.58 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $88.79 and a 200 day simple moving average of $84.53. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two week high of $93.22. The firm has a market cap of $5.74 billion, a P/E ratio of 16.43 and a beta of 0.92.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). The firm had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the company posted $1.59 EPS. Sell-side analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio is presently 14.47%.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.