The stock of Ameris Bancorp (NASDAQ:ABCB) reached all time high today, Nov, 14 and still has $64.58 target or 50.00% above today’s $43.05 share price. This indicates more upside for the $1.54 billion company. This technical setup was reported by Barchart.com. If the $64.58 PT is reached, the company will be worth $770.00 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 149,054 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 47.88% since April 12, 2016 and is uptrending. It has outperformed by 42.90% the S&P500.
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 has “Outperform” rating given on Friday, August 14 by Wood. The firm earned “Hold” rating on Tuesday, September 27 by Sandler O’Neill. As per Monday, November 2, the company rating was maintained by Cowen & Co. The rating was upgraded by Zacks to “Sell” on Tuesday, August 18. The rating was downgraded by Zacks to “Hold” on Monday, August 24. The stock of Ameris Bancorp (NASDAQ:ABCB) has “Overweight” rating given on Wednesday, December 23 by Piper Jaffray. The rating was maintained by Wood with “Buy” on Wednesday, August 19. Piper Jaffray downgraded the shares of ABCB in a report on Tuesday, April 26 to “Neutral” rating. The company was downgraded on Thursday, October 29 by Keefe Bruyette & Woods.
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 worsened, 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.
Price T Rowe Md has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Arizona State Retirement has invested 0.01% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Alpenglow L P has 11.11% invested in the company for 409,450 shares. California Pub Employees Retirement System, a California-based fund reported 52,200 shares. Ubs Asset Management Americas reported 14,064 shares or 0% of all its holdings. Polaris Cap Mngmt Ltd Llc owns 917,543 shares or 2.37% of their US portfolio. Texas Permanent School Fund last reported 0.01% of its portfolio in the stock. Jennison Assocs Limited Liability last reported 28,133 shares in the company. Gru Incorporated last reported 0% of its portfolio in the stock. Swiss Bancorp owns 53,664 shares or 0% of their US portfolio. Delta Asset Management Limited Tn reported 165 shares or 0% of all its holdings. Thrivent Financial For Lutherans holds 0.08% or 562,090 shares in its portfolio. The Texas-based Capstone Asset has invested 0.01% in Ameris Bancorp (NASDAQ:ABCB). Goldman Sachs Grp Incorporated holds 0.01% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 908,191 shares. Blackrock Gru Ltd has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB).
More important recent Ameris Bancorp (NASDAQ:ABCB) news were published by: Prnewswire.com which released: “Ameris Bancorp Signs Definitive Merger Agreement to Acquire Jacksonville …” on October 01, 2015, also Prnewswire.com published article titled: “Ameris Bancorp Reports Record Net Income For Third Quarter 2016”, Zacks.com published: “Ameris Bancorp (ABCB) Looks Good: Stock Adds 5.6% in Session” on November 10, 2016. More interesting news about Ameris Bancorp (NASDAQ:ABCB) was released by: Nasdaq.com and their article: “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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