The stock of Ameris Bancorp (NASDAQ:ABCB) hit a new 52-week high and has $45.53 target or 3.00% above today’s $44.20 share price. The 5 months bullish chart indicates low risk for the $1.58B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $45.53 price target is reached, the company will be worth $47.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 50,787 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 41.53% since April 21, 2016 and is uptrending. It has outperformed by 36.20% the S&P500.
Analysts await Ameris Bancorp (NASDAQ:ABCB) to report earnings on January, 27. They expect $0.59 earnings per share, up 25.53% or $0.12 from last year’s $0.47 per share. ABCB’s profit will be $21.09 million for 18.73 P/E if the $0.59 EPS becomes a reality. After $0.61 actual earnings per share reported by Ameris Bancorp for the previous quarter, Wall Street now forecasts -3.28% negative 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. $37 is the highest target while $30.50 is the lowest. The $32.90 average target is -25.57% below today’s ($44.2) stock price. Ameris Bancorp has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the shares of ABCB in a report on Wednesday, December 23 with “Overweight” rating. The rating was maintained by Cowen & Co with “Outperform” on Monday, November 2. The rating was downgraded by Zacks to “Hold” on Monday, August 24. Piper Jaffray downgraded the shares of ABCB in a report on Tuesday, April 26 to “Neutral” rating. Zacks upgraded Ameris Bancorp (NASDAQ:ABCB) on Tuesday, August 18 to “Sell” rating. The company was downgraded on Tuesday, September 27 by Sandler O’Neill. Keefe Bruyette & Woods downgraded the stock to “Market Perform” rating in Thursday, October 29 report. Wood maintained Ameris Bancorp (NASDAQ:ABCB) on Wednesday, August 19 with “Buy” rating. Wood maintained the shares of ABCB in a report on Friday, August 14 with “Outperform” rating.
According to Zacks Investment Research, “ABC Bancorp is a bank holding company.”
Insitutional Activity: The institutional sentiment increased to 1.55 in Q2 2016. Its up 0.29, from 1.26 in 2016Q1. The ratio is positive, 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.
Renaissance Technologies holds 0.02% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 345,883 shares. Creative Planning has 59 shares for 0% of their US portfolio. Gsa Prns Limited Liability Partnership holds 16,733 shares or 0.03% of its portfolio. Consector Limited Partnership reported 147,036 shares or 10.2% of all its holdings. Castine Capital Management holds 4.41% or 309,614 shares in its portfolio. Salzhauer Michael has invested 0.17% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Citigroup Incorporated accumulated 10,206 shares or 0% of the stock. Voya Invest Mngmt Ltd Liability Corporation accumulated 18,176 shares or 0% of the stock. Morgan Stanley holds 0% or 18,248 shares in its portfolio. Blackrock Investment Limited Liability Com last reported 142,765 shares in the company. Vanguard Group reported 1.43 million shares or 0% of all its holdings. Counselors Of Maryland Limited Com has invested 1.26% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Kennedy, a Missouri-based fund reported 600,839 shares. Two Sigma Secs Limited Com accumulated 0.11% or 6,779 shares. Mizuho Trust And Banking Com Ltd owns 157,600 shares or 0.01% of their US portfolio.
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”, Marketwatch.com published: “Virtual Stock Exchange” on April 14, 2011. 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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