Jones Financial Companies Lllp Buys New Shares in Ameris Bancorp $ABCB

Key Points

• Jones Financial Companies Lllp has acquired a position in Ameris Bancorp, purchasing 96,701 shares valued at approximately $5.57 million, representing about 0.14% ownership of the bank.
• Analysts have set a price target of $81.00 for Ameris Bancorp, with a consensus rating of "Moderate Buy" and an average target price of $72.14.
• Ameris Bancorp's stock opened at $73.44, with a market cap of $5.04 billion and a price-to-earnings ratio of 14.10.

Jones Financial Companies Lllp acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 96,701 shares of the bank's stock, valued at approximately $5,567,000. Jones Financial Companies Lllp owned approximately 0.14% of Ameris Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in ABCB. Nuveen LLC bought a new stake in Ameris Bancorp in the first quarter worth approximately $56,202,000. FJ Capital Management LLC grew its position in Ameris Bancorp by 311.3% in the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock worth $45,209,000 after acquiring an additional 594,340 shares in the last quarter. American Century Companies Inc. grew its position in Ameris Bancorp by 36.2% in the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock worth $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 first quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock worth $28,940,000 after acquiring an additional 329,196 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Ameris Bancorp in the first quarter worth approximately $10,528,000. 91.64% of the stock is owned by institutional investors.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock traded down $0.23 on Friday, reaching $74.40. The stock had a trading volume of 338,843 shares, compared to its average volume of 422,797. The business's 50-day moving average price is $69.62 and its two-hundred day moving average price is $62.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $75.46. The stock has a market cap of $5.10 billion, a P/E ratio of 14.28 and a beta of 0.97.

Wall Street Analyst Weigh In

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 company. According to data from MarketBeat, Ameris Bancorp 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.