Jupiter Asset Management Ltd. Trims Stake in Ameris Bancorp (NASDAQ:ABCB)

Jupiter Asset Management Ltd. lessened its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,010 shares of the bank’s stock after selling 6,968 shares during the period. Jupiter Asset Management Ltd. owned about 0.11% of Ameris Bancorp worth $3,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABCB. 1620 Investment Advisors Inc. bought a new stake in shares of Ameris Bancorp during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC boosted its position in Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares during the period. CWM LLC grew its stake in Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after acquiring an additional 329 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ameris Bancorp during the second quarter worth approximately $143,000. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $203,000. Institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Truist Financial raised their price target on Ameris Bancorp from $54.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, July 29th. DA Davidson upped their price objective 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. Finally, Stephens boosted their price target on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.

Ameris Bancorp Trading Up 3.0 %

Shares of NASDAQ ABCB opened at $61.05 on Friday. Ameris Bancorp has a 1-year low of $34.26 and a 1-year high of $64.88. The business has a fifty day moving average price of $58.38 and a 200 day moving average price of $51.43. The stock has a market capitalization of $4.22 billion, a P/E ratio of 14.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03.

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

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.