Jane Street Group LLC Takes $10.53 Million Position in Ameris Bancorp $ABCB

Key Points

• Jane Street Group LLC has invested approximately $10.53 million in Ameris Bancorp, acquiring around 182,878 shares, which represent about 0.27% of the bank's stock.
• Ameris Bancorp has announced a quarterly dividend of $0.20 per share, translating to an annual yield of 1.1% with a payout ratio of 14.08%.
• DA Davidson set a new $81.00 price target on Ameris Bancorp's shares, with an average rating of "Moderate Buy" from analysts.

Jane Street Group LLC bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 182,878 shares of the bank's stock, valued at approximately $10,528,000. Jane Street Group LLC owned 0.27% of Ameris Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABCB. Nuveen LLC purchased a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $56,202,000. American Century Companies Inc. raised its stake in shares of Ameris Bancorp by 36.2% during the 1st quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock worth $107,955,000 after purchasing an additional 498,604 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Ameris Bancorp by 189.7% during the 1st quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock worth $28,940,000 after purchasing an additional 329,196 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Ameris Bancorp by 150.3% during the 4th quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank's stock valued at $18,039,000 after buying an additional 173,106 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $7,833,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ameris Bancorp Price Performance

NASDAQ ABCB traded up $1.05 during trading on Thursday, reaching $73.89. 113,486 shares of the company traded hands, compared to its average volume of 422,875. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock's 50 day moving average price is $68.53 and its two-hundred day moving average price is $62.45. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 14.18 and a beta of 0.97.

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.