Sunday, June 26, 2022

Monitoring Ameris Bancorp (ABCB) after recent insider movements

In a filing, Ameris Bancorp revealed its CFO Stokes Nicole S acquired Company’s shares for reported $9984.0 on May 11. In the deal valued at $41.60 per share,240 shares were bought. As a result of this transaction, Stokes Nicole S now holds 26,525 shares worth roughly $ 1.1 million.

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Then, Veal Jimmy D sold 733 shares, generating $35,653 in total proceeds. Upon selling the shares at $48.64, the Director now owns 13,693 shares.

Before that, Veal Jimmy D sold 973 shares. Ameris Bancorp shares valued at $47,335 were divested by the Director at a price of $48.65 per share. As a result of the transaction, Veal Jimmy D now holds 86,465 shares, worth roughly $3.58 million.

In the meantime, Stephens downgraded its Ameris Bancorp [ABCB] rating to an Equal-weight from a an Overweight in a research note published on Tuesday. PT values the company’s stock at a premium of 26.07 to its Tuesday closing price. A number of analysts have revised their coverage, including DA Davidson’s analysts, who decreased its forecast for the stock in late March from “a Buy” to “a Neutral”.

Price Performance Review of ABCB

On Tuesday, Ameris Bancorp [NASDAQ:ABCB] saw its stock jump 3.42% to $41.40. On the same session, the stock had its day’s lowest price of $40.31, but rose to a high of $41.61. Over the last five days, the stock has gained 0.46%. Ameris Bancorp shares have fallen nearly -16.67% since the year began. Nevertheless, the stocks have fallen -20.67% over the past one year. While a 52-week high of $56.63 was reached on 01/13/22, a 52-week low of $39.59 was recorded on 06/16/22. SMA at 50 days reached $42.74, while 200 days put it at $48.16. A total of 0.51 million shares were traded, compared to the trading of 0.46 million shares in the previous session.

Levels Of Support And Resistance For ABCB Stock

The 24-hour chart illustrates a support level at 40.60, which if violated will result in even more drops to 39.81. On the upside, there is a resistance level at 41.90. A further resistance level may holdings at 42.41. The Relative Strength Index (RSI) on the 14-day chart is 42.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.94%. Stochastics %K at 13.40% indicates the stock is a buying.

How much short interest is there in Ameris Bancorp?

A steep rise in short interest was recorded in Ameris Bancorp stocks on Apr 28, 2022, dropping by -0.17 million shares to a total of 1.79 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 1.96 million shares. There was a decline of -9.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.71% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.96.

Ameris Bancorp [ABCB] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,569,813 shares, or roughly 13.78% of the outstanding ABCB shares. In other words, the investor’s shares have fallen by -17,903 from its previous 13-F filing of 9587716.0. Additionally, The Vanguard Group, Inc. decreased -0.28% of its stake after which the total value it holdings stand at $320,309,869, while Wellington Management Co. LLP added 7.41% of its stake to hold $237.13 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 488,485 shares of Ameris Bancorp, while Dimensional Fund Advisors LP bought 162,160 shares. At present, American Century Investment Manag is holding 2,155,800 shares valued at $98.28 million. Janus Henderson Investors US LLC owned 1,920,846 shares of the company at the time of its most recent 13F filing, worth $87.57 million.

According to FactSet, Ameris Bancorp’s share price will average $54.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.9 percent from its previous closing price of $40.03. Analysts expect Ameris Bancorp stock to reach the higher price of $63.00, while the lowest price estimate is $48.00. However, 6 analysts have rated ABCB stock as an Overweight in their predictions for 2022. The most recent change occurred on May 22, 2020 when DA Davidson began covering the stock and recommended ‘”a Buy”‘ rating along with a $25 price target.

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