The stock of Ameris Bancorp (NASDAQ:ABCB) reached all time high today, Nov, 24 and still has $47.56 target or 7.00% above today’s $44.45 share price. This indicates more upside for the $1.59B company. This technical setup was reported by Barchart.com. If the $47.56 PT is reached, the company will be worth $111.30M 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. The stock increased 0.79% or $0.35 on November 23, hitting $44.45. About 162,954 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 37.23% since April 22, 2016 and is uptrending. It has outperformed by 31.82% 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 $21.10 million for 18.83 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. Ameris Bancorp has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Monday, August 24 to “Hold”. The rating was downgraded by Piper Jaffray on Tuesday, April 26 to “Neutral”. Wood maintained Ameris Bancorp (NASDAQ:ABCB) on Wednesday, August 19 with “Buy” rating. On Tuesday, August 18 the stock rating was upgraded by Zacks to “Sell”. The stock has “Hold” rating given by Sandler O’Neill on Tuesday, September 27. Piper Jaffray maintained Ameris Bancorp (NASDAQ:ABCB) rating on Wednesday, December 23. Piper Jaffray has “Overweight” rating and $37 price target. The firm earned “Outperform” rating on Monday, November 2 by Cowen & Co. The stock of Ameris Bancorp (NASDAQ:ABCB) earned “Outperform” rating by Wood on Friday, August 14. The stock of Ameris Bancorp (NASDAQ:ABCB) has “Market Perform” rating given 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 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.
The California-based Blackrock Fund Advisors has invested 0.01% in Ameris Bancorp (NASDAQ:ABCB). Blackrock Group has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Great West Life Assurance Can owns 3,400 shares or 0% of their US portfolio. Tiaa Cref Invest Mgmt Ltd has 173,711 shares for 0% of their US portfolio. D E Shaw Inc reported 24,881 shares or 0% of all its holdings. Hodges Cap Mgmt accumulated 35,000 shares or 0.05% of the stock. Susquehanna Group Ltd Liability Partnership holds 0% or 37,401 shares in its portfolio. Teachers Retirement Of The State Of Kentucky reported 7,200 shares or 0% of all its holdings. The Illinois-based First Trust Advisors L P has invested 0.01% in Ameris Bancorp (NASDAQ:ABCB). Deutsche Comml Bank Ag holds 89,783 shares or 0% of its portfolio. The Missouri-based Stieven Cap Advisors Limited Partnership has invested 1.28% in Ameris Bancorp (NASDAQ:ABCB). Credit Suisse Ag has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Principal Fincl Grp Inc Inc last reported 0.01% of its portfolio in the stock. Monarch Ptnrs Asset Ltd holds 0.14% or 45,931 shares in its portfolio. Alliancebernstein L P has 46,954 shares for 0% of their US portfolio.
More notable 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 with their article: “Ameris Bancorp Reports Record Net Income For Third Quarter 2016” published on October 17, 2016, Marketwatch.com published: “Plus the latest data from Realtor.com on 21 home markets across the US” on April 14, 2011. More interesting news about Ameris Bancorp (NASDAQ:ABCB) were released by: Seekingalpha.com and their article: “Ameris Has A Lot Of Opportunities To Grow, But It’s Not Cheap” published on November 23, 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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