AQR Capital Management LLC Buys 121,993 Shares of 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 increased its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 115.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,465 shares of the bank's stock after purchasing an additional 121,993 shares during the quarter. AQR Capital Management LLC owned 0.33% of Ameris Bancorp worth $13,095,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Ameris Bancorp by 7.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,479 shares of the bank's stock worth $776,000 after purchasing an additional 922 shares during the last quarter. Foundry Partners LLC increased its position in Ameris Bancorp by 53.5% in the first quarter. Foundry Partners LLC now owns 110,911 shares of the bank's stock worth $6,385,000 after buying an additional 38,650 shares during the period. KBC Group NV increased its position in Ameris Bancorp by 8.8% in the first quarter. KBC Group NV now owns 3,251 shares of the bank's stock worth $187,000 after buying an additional 264 shares during the period. Advisor Resource Council bought a new stake in shares of Ameris Bancorp during the first quarter valued at about $590,000. Finally, MQS Management LLC bought a new stake in shares of Ameris Bancorp during the first quarter valued at about $517,000. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Stock Performance

NASDAQ ABCB traded down $0.36 during trading on Monday, hitting $74.02. The company's stock had a trading volume of 469,302 shares, compared to its average volume of 423,063. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $75.46. The firm has a market cap of $5.08 billion, a P/E ratio of 14.21 and a beta of 0.97. The firm has a 50 day moving average price of $69.76 and a 200 day moving average price of $62.96. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp's dividend payout ratio is 14.08%.

Analyst Ratings Changes

Separately, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the stock a "buy" rating in a 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.14.

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.