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DA Davidson analysts upgrades a Buy rating for Ameris Bancorp (ABCB)

Ameris Bancorp’s filing revealed that its Chief Credit Officer EDWARDS JON S unloaded Company’s shares for reported $0.36 million on Mar 07 ’24. In the deal valued at $47.35 per share,7,500 shares were sold. As a result of this transaction, EDWARDS JON S now holds 59,691 shares worth roughly $2.83 million.

Then, Choate William Millard bought 7,490 shares, generating $250,023 in total proceeds. Upon buying the shares at $33.38, the Director now owns 7,490 shares.

Before that, McKendry William D bought 1,000 shares. Ameris Bancorp shares valued at $30,140 were divested by the Chief Risk Officer at a price of $30.14 per share. As a result of the transaction, McKendry William D now holds 30,134 shares, worth roughly $1.43 million.

DA Davidson upgraded its Ameris Bancorp [ABCB] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in early April with a ‘”an Equal-weight”‘ rating. Raymond James revised its rating on October 31, 2022. It rated ABCB as “a Mkt perform” which previously was an “an Outperform”.

Price Performance Review of ABCB

On Tuesday, Ameris Bancorp [NASDAQ:ABCB] saw its stock fall -2.10% to $47.48. Over the last five days, the stock has lost -0.79%. Ameris Bancorp shares have fallen nearly -10.50% since the year began. Nevertheless, the stocks have risen 41.73% over the past one year. While a 52-week high of $53.99 was reached on 01/26/24, a 52-week low of $28.33 was recorded on 01/17/24. SMA at 50 days reached $46.59, while 200 days put it at $44.32. A total of 0.3 million shares were traded, compared to the trading of 0.42 million shares in the previous session.

Levels Of Support And Resistance For ABCB Stock

The 24-hour chart illustrates a support level at 47.12, which if violated will result in even more drops to 46.75. On the upside, there is a resistance level at 48.00. A further resistance level may holdings at 48.51. The Relative Strength Index (RSI) on the 14-day chart is 53.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 29.92%. Stochastics %K at 80.27% indicates the stock is a selling.

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