Breaking The Old 52 Week Low, Ameris Bancorp (Nasdaq:ABCB) Closing At $31.69

Ameris Bancorp (Nasdaq:ABCB)

December 26th, 2018
With markets going up Ameris Bancorp closed Wednesday up 4.97%, a $1.50 increase to close on $31.69. Despite ending the day higher, Ameris Bancorp hit a new 52 week low of $29.99, breaking the previous low of $30.15 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. The next earnings report is expected in approximately 29 days.

ABCB outperformed the rest of the Financials sector which went up 4.65% today.

Results from 6 analysts points to the possibility that Ameris Bancorp could rise significantly (45%), while Finbox has calculated (with very high uncertainty) a fair value price of $31.30.

Market Sectors

Wednesday saw an upward swing in all sectors of the market with Consumer Discretionary leading the way with a 6.28% increase. Healthcare has seen the biggest year-to-date gain at 2.12%. The biggest loss this year has been the Energy sector declining 21%.

Consumer Discretionary saw the biggest turnaround from its 5-day performance of -3.04%, as it went up 6.28%.

Sector Breakdown

  • Consumer Discretionary went up with a 6.28% change.
  • Energy went up with a 6.24% change.
  • Information Technology went up with a 6.05% change.
  • Communication Services went up with a 5.39% change.
  • Industrials went up with a 4.80% change.
  • Financials went up with a 4.65% change.
  • Materials went up with a 4.62% change.
  • Healthcare went up with a 4.54% change.
  • Real Estate went up with a 3.26% change.
  • Consumer Staples went up with a 2.84% change.
  • Utilities went up with a 1.56% 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.

ABCB daily update
ABCB daily update

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