Rafferty Asset Management LLC Has $5.01 Million Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

Rafferty Asset Management LLC raised its holdings in Ameris Bancorp (NASDAQ:ABCBFree Report) by 61.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,347 shares of the bank’s stock after acquiring an additional 35,983 shares during the period. Rafferty Asset Management LLC owned about 0.14% of Ameris Bancorp worth $5,005,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Ameris Bancorp in the fourth quarter valued at approximately $31,000. Journey Strategic Wealth LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth $203,000. Trexquant Investment LP acquired a new position in Ameris Bancorp in the fourth quarter valued at $205,000. Xponance Inc. acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at about $211,000. Finally, Mackenzie Financial Corp bought a new stake in Ameris Bancorp in the fourth quarter worth approximately $218,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

ABCB has been the topic of a number of recent research reports. Piper Sandler raised their target price on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Truist Financial reduced their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 1st. Stephens restated an “equal weight” rating and issued a $53.00 price objective on shares of Ameris Bancorp in a research report on Friday, April 26th. Finally, StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Check Out Our Latest Report on Ameris Bancorp

Ameris Bancorp Price Performance

ABCB opened at $47.61 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $47.90 and its 200 day simple moving average is $48.17. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 11.58 and a beta of 1.06. Ameris Bancorp has a 1 year low of $32.74 and a 1 year high of $53.99.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last issued its earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $267.27 million for the quarter, compared to the consensus estimate of $258.05 million. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, analysts predict that Ameris Bancorp will post 4.59 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Ameris Bancorp Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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