Price Don’t Lie: What’s in Ameris Bancorp After Reaching 52-Week High?

Price Don't Lie: What's in Ameris Bancorp After Reaching 52 Week High?

The stock of Ameris Bancorp (NASDAQ:ABCB) hit a new 52-week high and has $46.67 target or 5.00% above today’s $44.45 share price. The 8 months bullish chart indicates low risk for the $1.52 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $46.67 price target is reached, the company will be worth $76.00M 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 51,618 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 $20.18M 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. $37 is the highest target while $30.50 is the lowest. The $32.90 average target is -25.98% below today’s ($44.45) stock price. Ameris Bancorp has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Tuesday, September 27 by Sandler O’Neill. The rating was upgraded by Zacks to “Sell” on Tuesday, August 18. The rating was maintained by Wood on Friday, August 14 with “Outperform”. The rating was downgraded by Zacks to “Hold” on Monday, August 24. The company was maintained on Wednesday, December 23 by Piper Jaffray. The firm has “Neutral” rating given on Tuesday, April 26 by Piper Jaffray. Cowen & Co maintained the shares of ABCB in a report on Monday, November 2 with “Outperform” rating. The firm earned “Buy” rating on Wednesday, August 19 by Wood. The firm 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.
Monarch Ptnrs Asset Llc has 0.14% invested in the company for 45,931 shares. Panagora Asset Management Inc has 14,210 shares for 0% of their US portfolio. Ameriprise Financial last reported 0.01% of its portfolio in the stock. Credit Suisse Ag reported 68,920 shares or 0% of all its holdings. Renaissance Limited Liability Company holds 345,883 shares or 0.02% of its portfolio. Alliancebernstein Ltd Partnership reported 46,954 shares or 0% of all its holdings. Polaris Cap Management Limited Liability holds 2.37% of its portfolio in Ameris Bancorp (NASDAQ:ABCB) for 917,543 shares. Price T Rowe Assocs Incorporated Md owns 85,980 shares or 0% of their US portfolio. Rhumbline Advisers reported 52,776 shares or 0% of all its holdings. Arizona State Retirement Systems holds 14,500 shares or 0.01% of its portfolio. Thrivent Fincl For Lutherans last reported 0.08% of its portfolio in the stock. Jacobs Asset Mngmt Limited Liability Corporation owns 772,712 shares or 6.88% of their US portfolio. Parametric Associates Limited Liability Com has 0% invested in the company for 11,969 shares. The Missouri-based Stieven Cap Advsr Limited Partnership has invested 1.28% in Ameris Bancorp (NASDAQ:ABCB). Assetmark has invested 0% of its portfolio in Ameris Bancorp (NASDAQ:ABCB).

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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