The stock of Ameris Bancorp (NASDAQ:ABCB) reached all time high today, Nov, 29 and still has $48.54 target or 9.00% above today’s $44.53 share price. This indicates more upside for the $1.53 billion company. This technical setup was reported by Barchart.com. If the $48.54 PT is reached, the company will be worth $137.70M 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 68,148 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 37.58% since April 26, 2016 and is uptrending. It has outperformed by 32.32% 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 $20.27M for 18.87 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. Piper Jaffray downgraded Ameris Bancorp (NASDAQ:ABCB) on Tuesday, April 26 to “Neutral” rating. Sandler O’Neill downgraded the shares of ABCB in a report on Tuesday, September 27 to “Hold” rating. Zacks upgraded Ameris Bancorp (NASDAQ:ABCB) on Tuesday, August 18 to “Sell” rating. Piper Jaffray maintained it with “Overweight” rating and $37 target price in Wednesday, December 23 report. The rating was maintained by Wood on Wednesday, August 19 with “Buy”. The stock of Ameris Bancorp (NASDAQ:ABCB) has “Market Perform” rating given on Thursday, October 29 by Keefe Bruyette & Woods. Zacks downgraded the shares of ABCB in a report on Monday, August 24 to “Hold” rating. The firm has “Outperform” rating by Wood given on Friday, August 14. The firm has “Outperform” rating by Cowen & Co given on Monday, November 2.
According to Zacks Investment Research, “ABC Bancorp is a bank holding company.”
Insitutional Activity: The institutional sentiment increased to 1.55 in 2016 Q2. Its up 0.29, from 1.26 in 2016Q1. The ratio improved, 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.
Lba Wealth Management Ltd Com last reported 15 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) reported 729 shares or 0% of all its holdings. Wells Fargo & Mn last reported 0.01% of its portfolio in the stock. The California-based Blackrock Institutional Trust Na has invested 0% in Ameris Bancorp (NASDAQ:ABCB). Tci Wealth Advsrs accumulated 0% or 22 shares. Ifc Fl, a Florida-based fund reported 6,772 shares. Jpmorgan Chase & reported 2,048 shares or 0% of all its holdings. First Republic Inv Mgmt owns 8,221 shares or 0% of their US portfolio. Rhumbline Advisers has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). 1492 Cap Ltd Liability reported 59,148 shares or 1.58% of all its holdings. Metropolitan Life Insur New York, a New York-based fund reported 24,664 shares. Delta Asset Management Limited Liability Corporation Tn holds 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 165 shares. Synovus has 2,463 shares for 0% of their US portfolio. Alliancebernstein Limited Partnership, a New York-based fund reported 46,954 shares. Arizona State Retirement Systems, a Arizona-based fund reported 14,500 shares.
More important recent Ameris Bancorp (NASDAQ:ABCB) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on April 14, 2011, also Prnewswire.com published article titled: “Ameris Bancorp Signs Definitive Merger Agreement to Acquire Jacksonville …”, Nasdaq.com published: “Ameris Bancorp Is Proof Of Life After Banks’ Deaths” on December 02, 2015. More interesting news about Ameris Bancorp (NASDAQ:ABCB) was released by: Seekingalpha.com and their article: “Ameris Has A Lot Of Opportunities To Grow, But It’s Not Cheap” with publication date: November 23, 2016.
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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