The stock of Ameris Bancorp (NASDAQ:ABCB) reached all time high today, Nov, 7 and still has $47.60 target or 29.00% above today’s $36.90 share price. This indicates more upside for the $1.27B company. This technical setup was reported by Barchart.com. If the $47.60 PT is reached, the company will be worth $368.30M 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. About 18,876 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 27.25% since April 5, 2016 and is uptrending. It has outperformed by 25.29% 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 company was maintained on Monday, November 2 by Cowen & Co. The firm has “Sell” rating given on Tuesday, August 18 by Zacks. The rating was maintained by Wood with “Outperform” on Friday, August 14. The stock has “Neutral” rating given by Piper Jaffray on Tuesday, April 26. The firm has “Market Perform” rating given on Thursday, October 29 by Keefe Bruyette & Woods. The company was maintained on Wednesday, August 19 by Wood. Sandler O’Neill downgraded the shares of ABCB in a report on Tuesday, September 27 to “Hold” rating. The rating was downgraded by Zacks on Monday, August 24 to “Hold”. The rating was maintained by Piper Jaffray on Wednesday, December 23 with “Overweight”.
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 dropped, 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.
Susquehanna Intl Gru Inc Llp last reported 37,401 shares in the company. New York State Teachers Retirement Systems holds 0% or 11,900 shares in its portfolio. Vanguard Grp Inc Inc holds 1.43 million shares or 0% of its portfolio. Principal Fincl Gp last reported 196,080 shares in the company. Moreover, Salzhauer Michael has 0.17% invested in Ameris Bancorp (NASDAQ:ABCB) for 7,209 shares. The Illinois-based Segall Bryant And Hamill Limited Liability Corp has invested 0.23% in Ameris Bancorp (NASDAQ:ABCB). Guggenheim has 72,158 shares for 0.01% of their US portfolio. Lba Wealth Mngmt Limited Liability Company holds 0% or 15 shares in its portfolio. Teachers Advsr has 0% invested in the company for 77,263 shares. Macquarie Group Limited has 32,554 shares for 0% of their US portfolio. Blackrock Invest Limited Liability, a New Jersey-based fund reported 142,765 shares. Gsa Cap Prns Llp holds 0.03% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 16,733 shares. Arizona State Retirement has invested 0.01% of its portfolio in Ameris Bancorp (NASDAQ:ABCB). Glenmede Tru Co Na last reported 550 shares in the company. The Arkansas-based Stephens Ar has invested 0.03% in Ameris Bancorp (NASDAQ:ABCB).
More recent Ameris Bancorp (NASDAQ:ABCB) news were published by: Prnewswire.com which released: “Ameris Bancorp Reports Record Net Income For Third Quarter 2016” on October 17, 2016. Also Prnewswire.com published the news titled: “Ameris Bancorp Signs Definitive Merger Agreement to Acquire Jacksonville …” on October 01, 2015. Nasdaq.com‘s news article titled: “Ameris Bancorp Is Proof Of Life After Banks’ Deaths” with publication date: December 02, 2015 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.
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