Ameris Bancorp $ABCB Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Ameris Bancorp by 3.2% in Q3, buying 39,478 shares to hold 1,258,436 shares (about 1.84% of the company) valued at roughly $92.3 million.
• Ameris reported quarterly EPS of $1.59, beating estimates of $1.56 while revenue was roughly in line, and analysts have raised targets resulting in a MarketBeat consensus of "Moderate Buy" with a $86.50 price target.
• Institutional investors own about 91.6% of the stock; Ameris has a market cap of approximately $5.09 billion, a P/E of 14.39, and a 52‑week range of $48.27–$87.98.

JPMorgan Chase & Co. increased its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,258,436 shares of the bank's stock after purchasing an additional 39,478 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.84% of Ameris Bancorp worth $92,256,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCB. Salomon & Ludwin LLC purchased a new stake in shares of Ameris Bancorp during the third quarter worth $33,000. Covestor Ltd boosted its position in Ameris Bancorp by 51.5% during the third quarter. Covestor Ltd now owns 547 shares of the bank's stock worth $40,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP grew its stake in Ameris Bancorp by 1,567.6% during the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank's stock valued at $37,000 after acquiring an additional 533 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp in the 3rd quarter valued at about $45,000. Finally, Danske Bank A S purchased a new position in Ameris Bancorp in the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Ameris Bancorp Price Performance

NASDAQ:ABCB opened at $74.97 on Wednesday. The company has a market capitalization of $5.09 billion, a P/E ratio of 14.39 and a beta of 0.97. 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 has a 52 week low of $48.27 and a 52 week high of $87.98. The stock's fifty day moving average is $80.39 and its two-hundred day moving average is $76.54.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million during the quarter, compared to the consensus estimate of $310.48 million. During the same period last year, the company earned $1.38 EPS. Equities analysts expect that Ameris Bancorp will post 4.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stephens upped their price target on Ameris Bancorp from $79.00 to $87.00 and gave the company an "equal weight" rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 price objective on Ameris Bancorp in a research report on Monday, February 2nd. Truist Financial upped their target price on Ameris Bancorp from $83.00 to $86.00 and gave the company a "hold" rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.50.

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.

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