Rafferty Asset Management LLC Buys 8,086 Shares of Ameris Bancorp (NASDAQ:ABCB)

Rafferty Asset Management LLC lifted its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 11.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,821 shares of the bank's stock after purchasing an additional 8,086 shares during the quarter. Rafferty Asset Management LLC owned 0.11% of Ameris Bancorp worth $4,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ABCB. Norges Bank acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at $48,380,000. JPMorgan Chase & Co. lifted its stake in Ameris Bancorp by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock worth $59,570,000 after acquiring an additional 223,805 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of Ameris Bancorp by 8.9% in the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock valued at $158,490,000 after purchasing an additional 208,000 shares during the period. Jennison Associates LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at about $10,856,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Ameris Bancorp by 150.3% in the 4th quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank's stock valued at $18,039,000 after purchasing an additional 173,106 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Down 0.2%

Shares of ABCB traded down $0.12 during midday trading on Friday, reaching $61.19. 370,169 shares of the stock were exchanged, compared to its average volume of 404,720. Ameris Bancorp has a 12-month low of $45.89 and a 12-month high of $74.56. The firm has a 50 day simple moving average of $57.30 and a 200-day simple moving average of $62.34. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 11.74 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. During the same period last year, the business earned $1.10 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. Research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.81%.

Insider Transactions at Ameris Bancorp

In related news, insider Douglas D. Strange acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. The trade was a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler Companies upped their target price on Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Raymond James dropped their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a report on Tuesday, April 29th. Finally, Piper Sandler assumed coverage on Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ameris Bancorp has an average rating of "Moderate Buy" and a consensus target price of $71.43.

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.