AQR Capital Management LLC Increases Holdings in Ameris Bancorp $ABCB

Key Points

• AQR Capital Management increased its ownership in Ameris Bancorp by 115.7% during Q1, now holding approximately 0.33% of the company, valued at $13,095,000.
• Meanwhile, Bank of America Corp DE and Deutsche Bank AG also boosted their stakes in Ameris Bancorp by 4.1% and 50.3% respectively during the previous quarter.
• DA Davidson has established an $81.00 target price for Ameris Bancorp, rating it as a "buy," and the stock currently has an average rating of "Moderate Buy" with a consensus price target of $72.14.

AQR Capital Management LLC grew its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 115.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 227,465 shares of the bank's stock after purchasing an additional 121,993 shares during the period. AQR Capital Management LLC owned approximately 0.33% of Ameris Bancorp worth $13,095,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Ameris Bancorp during the first quarter valued at approximately $56,202,000. FJ Capital Management LLC increased its position in shares of Ameris Bancorp by 311.3% during the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock valued at $45,209,000 after acquiring an additional 594,340 shares in the last quarter. American Century Companies Inc. increased its position in shares of Ameris Bancorp by 36.2% during the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock valued at $107,955,000 after acquiring an additional 498,604 shares in the last quarter. Jennison Associates LLC grew its position in Ameris Bancorp by 189.7% in 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 during the period. Finally, Jane Street Group LLC bought a new stake in Ameris Bancorp in the 1st quarter worth approximately $10,528,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Price Performance

Ameris Bancorp stock traded up $0.20 during mid-day trading on Monday, hitting $74.58. The stock had a trading volume of 23,994 shares, compared to its average volume of 420,458. The firm has a market capitalization of $5.12 billion, a P/E ratio of 14.30 and a beta of 0.97. 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 firm's 50 day moving average is $69.62 and its 200 day moving average is $62.89. Ameris Bancorp has a one year low of $48.27 and a one year high of $75.46.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Company 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.