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

Several other institutional investors have also recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of Ameris Bancorp by 4.6% during the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock valued at $249,000 after purchasing an additional 175 shares during the period. State of Wyoming raised its holdings in shares of Ameris Bancorp by 8.3% in the 1st quarter. State of Wyoming now owns 2,346 shares of the bank's stock worth $135,000 after acquiring an additional 179 shares during the last quarter. KBC Group NV raised its holdings in shares of Ameris Bancorp by 8.8% in the 1st quarter. KBC Group NV now owns 3,251 shares of the bank's stock worth $187,000 after acquiring an additional 264 shares during the last quarter. Xponance Inc. raised its holdings in shares of Ameris Bancorp by 5.8% in the 1st quarter. Xponance Inc. now owns 5,001 shares of the bank's stock worth $288,000 after acquiring an additional 276 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Ameris Bancorp by 5.7% in the 1st quarter. HB Wealth Management LLC now owns 5,941 shares of the bank's stock worth $342,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Analysts Set New Price Targets

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

Ameris Bancorp Stock Down 0.3%

NASDAQ:ABCB traded down $0.20 on Monday, hitting $74.18. The stock had a trading volume of 85,267 shares, compared to its average volume of 420,718. 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 has a market cap of $5.09 billion, a P/E ratio of 14.24 and a beta of 0.97. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $75.46. The firm's fifty day simple moving average is $69.62 and its two-hundred day simple moving average is $62.89.

Ameris Bancorp 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.