Price Action Report: What Will Happen to Ameris Bancorp Next? The Stock Just Reaches All Time High

Price Action Report: What Will Happen to Ameris Bancorp Next? The Stock Just Reaches All Time High

The stock of Ameris Bancorp (NASDAQ:ABCB) reached all time high today, Oct, 12 and still has $46.75 target or 30.00% above today’s $35.96 share price. This indicates more upside for the $1.24 billion company. This technical setup was reported by Barchart.com. If the $46.75 PT is reached, the company will be worth $372.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 3,671 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 29.60% since March 9, 2016 and is uptrending. It has outperformed by 22.19% the S&P500.

Analysts await Ameris Bancorp (NASDAQ:ABCB) to report earnings on October, 28. They expect $0.59 EPS, up 22.92% or $0.11 from last year’s $0.48 per share. ABCB’s profit will be $20.34 million for 15.24 P/E if the $0.59 EPS becomes a reality. After $0.57 actual EPS reported by Ameris Bancorp for the previous quarter, Wall Street now forecasts 3.51% EPS growth.

Ameris Bancorp (NASDAQ:ABCB) Ratings Coverage

Out of 6 analysts covering Ameris Bancorp (NASDAQ:ABCB), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Ameris Bancorp has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Tuesday, September 27 by Sandler O’Neill. Piper Jaffray maintained it with “Overweight” rating and $37 target price in Wednesday, December 23 report. As per Tuesday, August 18, the company rating was upgraded by Zacks. The stock of Ameris Bancorp (NASDAQ:ABCB) has “Neutral” rating given on Tuesday, April 26 by Piper Jaffray. The firm earned “Buy” rating on Wednesday, August 19 by Wood. The stock has “Outperform” rating given by Wood on Friday, August 14. Cowen & Co maintained the shares of ABCB in a report on Monday, November 2 with “Outperform” rating. The rating was downgraded by Keefe Bruyette & Woods on Thursday, October 29 to “Market Perform”. The rating was downgraded by Zacks to “Hold” on Monday, August 24.

According to Zacks Investment Research, “ABC Bancorp is a bank holding company.”

Insitutional Activity: The institutional sentiment decreased to 1.26 in Q2 2016. Its down 0.20, from 1.46 in 2016Q1. The ratio is negative, as 12 funds sold all Ameris Bancorp shares owned while 38 reduced positions. 10 funds bought stakes while 53 increased positions. They now own 26.23 million shares or 5.94% less from 27.89 million shares in 2016Q1.
Jennison Ltd holds 28,133 shares or 0% of its portfolio. Schwab Charles Investment holds 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 105,256 shares. California Employees Retirement System accumulated 52,200 shares or 0% of the stock. Moreover, Mendon Advsrs Corp has 1.29% invested in Ameris Bancorp (NASDAQ:ABCB) for 420,004 shares. Pnc Fin Services Gp holds 0% or 171 shares in its portfolio. Comerica Natl Bank has invested 0.01% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Janney Montgomery Scott Ltd Llc accumulated 0.02% or 44,361 shares. Sei Invests last reported 0.01% of its portfolio in the stock. Metropolitan Life Insurance Company Ny accumulated 24,664 shares or 0.01% of the stock. 1492 Capital Limited Liability Corporation holds 1.58% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 59,148 shares. Thrivent For Lutherans holds 0.08% or 562,090 shares in its portfolio. Moreover, Jacobs Asset Mgmt Ltd Liability Corporation has 6.88% invested in Ameris Bancorp (NASDAQ:ABCB) for 772,712 shares. Ameriprise has 816,994 shares for 0.01% of their US portfolio. Moreover, Texas Permanent School Fund has 0.01% invested in Ameris Bancorp (NASDAQ:ABCB) for 21,306 shares. Rhumbline Advisers last reported 52,776 shares in the company.

More notable recent Ameris Bancorp (NASDAQ:ABCB) news were published by: Prnewswire.com which released: “Ameris Bancorp Announces Date Of Third Quarter 2016 Earnings Release And …” on September 19, 2016, also Prnewswire.com with their article: “Ameris Bancorp Announces Date Of Second Quarter 2016 Earnings Release And …” published on July 01, 2016, Prnewswire.com published: “Ameris Bancorp Signs Definitive Merger Agreement to Acquire Jacksonville …” on October 01, 2015. More interesting news about Ameris Bancorp (NASDAQ:ABCB) were released by: Prnewswire.com and their article: “Ameris Bancorp Announces Increased Third Quarter 2016 Dividend” published on September 08, 2016 as well as Nasdaq.com‘s news article titled: “Ameris Bancorp Is Proof Of Life After Banks’ Deaths” with publication date: December 02, 2015.

ABCB Company Profile

Ameris Bancorp, incorporated on December 18, 1980, is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Firm operates through four divisions: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division. The Banking Division is engaged in the delivery of financial services, which include commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division is engaged in the origination, sales and servicing of one- to four-family residential mortgage loans. The Warehouse Lending Division is engaged in the origination and servicing of warehouse lines to other businesses that are secured by underlying one- to four-family residential mortgage loans. The SBA Division is engaged in the origination, sales and servicing of small business administration (SBA) loans.

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