Ameris Bancorp (ABCB) has risen sharply, recording gains of 5.06% in the past 4 weeks. However, the stock has corrected -1.31% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.23% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.65% and the 50-Day Moving Average is 6.36%.The 200 Day SMA reached 14.49% Ameris Bancorp is up 20.94% in the last 3-month period. Year-to-Date the stock performance stands at 4.22%.
Ameris Bancorp (ABCB) : The consensus price target for Ameris Bancorp (ABCB) is $36.25 for the short term with a standard deviation of $2.5. The most optimist securities analyst among the 4 who monitor the stock believes that the stock can reach $40, however, the pessimist price target for the company is $35.
For the current week, the company shares have a recommendation consensus of Buy. Ameris Bancorp (NASDAQ:ABCB): The stock opened at $35.25 and touched an intraday high of $35.4 on Friday. During the day, the stock corrected to an intraday low of $34.72, however, the bulls stepped in and pushed the price higher to close in the green at $35.3 with a gain of 0.28% for the day. The total traded volume for the day was 1,144,990. The stock had closed at $35.3 in the previous trading session.
Ameris Bancorp is a financial holding company. The Companys business is conducted primarily through its wholly owned banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. Its customers are primarily concentrated in markets in Georgia, Alabama, Florida and South Carolina. It performs certain shareholder and investor relations functions. The Company maintains a diversified loan portfolio by providing a range of commercial and retail lending services to business entities and individuals. It invests in federal, state and municipal obligations, corporate obligations, public housing authority bonds, industrial development revenue bonds, securities issued by Government-Sponsored Enterprises (GSEs) and satisfactorily-rated trust preferred obligations. The Company provides a range of deposit accounts and services to both retail and commercial customers.