Ameris Bancorp $ABCB Shares Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP grew its holdings in Ameris Bancorp (NASDAQ:ABCB) by 229.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,721 shares of the bank’s stock after purchasing an additional 31,842 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Ameris Bancorp were worth $3,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABCB. American Century Companies Inc. increased its stake in Ameris Bancorp by 10.8% during the 2nd quarter. American Century Companies Inc. now owns 2,077,359 shares of the bank’s stock worth $134,405,000 after buying an additional 202,165 shares during the period. Geode Capital Management LLC boosted its position in Ameris Bancorp by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,573,486 shares of the bank’s stock valued at $101,815,000 after buying an additional 11,909 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ameris Bancorp by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock worth $92,256,000 after acquiring an additional 39,478 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Ameris Bancorp by 2.8% in the third quarter. Congress Asset Management Co. now owns 969,680 shares of the bank’s stock worth $71,087,000 after acquiring an additional 26,639 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Ameris Bancorp by 134.7% during the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock worth $68,318,000 after acquiring an additional 534,830 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Shares of ABCB opened at $75.22 on Tuesday. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $87.98. The firm’s fifty day simple moving average is $80.41 and its 200-day simple moving average is $76.53. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.44 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.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The firm had revenue of $309.92 million during the quarter, compared to the consensus estimate of $310.48 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Equities analysts forecast that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Stephens upped their price target on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. DA Davidson set a $94.00 price target on Ameris Bancorp in a research report on Monday, February 2nd. Finally, Truist Financial lifted their price objective on Ameris Bancorp from $83.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.