Ameris Bancorp (Nasdaq:ABCB)
December 10th, 2018
Amidst rising markets Ameris Bancorp finished Monday’s trading session down 1.98%, a $0.74 decrease to close on $36.70. As well as the drop in value, Ameris Bancorp hit a new 52 week low of $36.16, breaking the previous low of $37.04 from earlier this month. Be aware that the Piotroski Score1 is calculated to be 2, which is very low as the scale goes from 0-9. This is considered to be a weak score in terms of financial strength.
ABCB was outperformed by the rest of the Financials sector which went down only 1.41%.
Analysis results from 6 analysts suggest that Ameris Bancorp could grow significantly (39%), while Finbox has calculated (with very high uncertainty) a fair value price of $35.67.
The market sectors were mixed Monday with a majority of the sectors trending up. Information Technology saw the biggest increase of the day (1.43%), while Energy saw the biggest drop (1.62%). Healthcare has seen the biggest year-to-date gain at 9.38%. The biggest loss this year has been the Materials sector dropping 15%.
Information Technology saw the biggest turnaround from its 5-day performance of -4.06%, as it went up 1.43%. Real Estate saw a turn around from its 5-day performance of 1.28% trading down 0.43%.
- Information Technology went up with a 1.43% change.
- Communication Services went up with a 0.75% change.
- Healthcare went up with a 0.33% change.
- Utilities went up with a 0.30% change.
- Materials went up with a 0.28% change.
- Industrials went up with a 0.25% change.
- Consumer Discretionary went up with a 0.13% change.
- Consumer Staples went up with a 0.02% change.
- Real Estate went down with a -0.43% change.
- Financials went down with a -1.41% change.
- Energy went down with a -1.62% change.
Ameris Bancorp Info
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division. It offers commercial and retail checking accounts, regular interest-bearing savings accounts, money market accounts, individual retirement accounts, and certificates of deposit. The company also provides commercial real estate, residential real estate mortgage, agricultural, and commercial and industrial loans; consumer loans, including motor vehicle, home improvement, and home equity loans, as well as loans secured by savings accounts and small unsecured personal credit lines; and municipal and commercial insurance premium finance loans. It operates 97 domestic banking offices and 13 loan production offices. Ameris Bancorp was founded in 1971 and is headquartered in Moultrie, Georgia.
All amounts in USD unless otherwise indicated
(1) The Piotrosky score is used to determine the best value stocks with nine being the best and zero being the worst. It is based on specific aspects of the company’s financial statements, such as positive net income, operating cash flow and asset turnover ratio. A score 0 0 is the worst (Ameris Bancorp’s score is 2), and 9 is the best.
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