The stock of Ameris Bancorp (NASDAQ:ABCB) hit a new 52-week high and has $54.64 target or 52.00% above today’s $35.95 share price. The 8 months bullish chart indicates low risk for the $1.26 billion company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $54.64 price target is reached, the company will be worth $655.20 million 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 20,021 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 25.04% since March 30, 2016 and is uptrending. It has outperformed by 22.03% 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. $37 is the highest target while $30.50 is the lowest. The $32.90 average target is -8.48% below today’s ($35.95) stock price. Ameris Bancorp has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Zacks on Monday, August 24. Wood maintained Ameris Bancorp (NASDAQ:ABCB) on Friday, August 14 with “Outperform” rating. The company was downgraded on Thursday, October 29 by Keefe Bruyette & Woods. The stock has “Sell” rating given by Zacks on Tuesday, August 18. The rating was maintained by Wood on Wednesday, August 19 with “Buy”. The stock of Ameris Bancorp (NASDAQ:ABCB) earned “Outperform” rating by Cowen & Co on Monday, November 2. On Tuesday, September 27 the stock rating was downgraded by Sandler O’Neill to “Hold”. The firm has “Overweight” rating given on Wednesday, December 23 by Piper Jaffray. The rating was downgraded by Piper Jaffray on Tuesday, April 26 to “Neutral”.
According to Zacks Investment Research, “ABC Bancorp is a bank holding company.”
Insitutional Activity: The institutional sentiment decreased to 1.26 in 2016 Q2. 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.
Janney Montgomery Scott Limited accumulated 44,361 shares or 0.02% of the stock. Inv Counselors Of Maryland Llc has 1.26% invested in the company for 773,527 shares. Allianz Asset Mgmt Ag, a Germany-based fund reported 579,797 shares. Stieven Limited Partnership accumulated 155,200 shares or 1.28% of the stock. The Massachusetts-based Castine Mgmt Limited Liability Company has invested 4.41% in Ameris Bancorp (NASDAQ:ABCB). Tnb Financial reported 14,707 shares or 0.12% of all its holdings. Arizona State Retirement Systems has invested 0.01% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Ftb Advsr Inc last reported 0% of its portfolio in the stock. Panagora Asset Mngmt holds 14,210 shares or 0% of its portfolio. Lba Wealth Management Lc last reported 15 shares in the company. Moreover, 1492 Cap Mgmt Ltd Liability has 1.58% invested in Ameris Bancorp (NASDAQ:ABCB) for 59,148 shares. Hodges Capital Mngmt Inc last reported 35,000 shares in the company. The New York-based Financial Bank Of New York Mellon has invested 0.01% in Ameris Bancorp (NASDAQ:ABCB). Blackrock Institutional Na last reported 830,392 shares in the company. First Republic Invest Incorporated reported 8,221 shares or 0% of all its holdings.
More 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 Nasdaq.com published the news titled: “Ameris Bancorp Is Proof Of Life After Banks’ Deaths” on December 02, 2015. Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: National Health Investors, Spirit Realty Capital and …” with publication date: September 26, 2016 was also an interesting one.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.