Boston, MA, 03/18/2014 – There are two key developments around Ameris Bancorp (NASDAQ:ABCB) which make the stock an attractive play. These are the compelling stock growth and the favorable technical.
Talking about compelling stock price performance, the stock has moved higher 16.5 percent in the past 30-days. That upward rally has already placed the stock above its 20-day moving average.
As if that is not enough, the stock is witnessing improvement in earnings estimates. The favorable revisions around the stock suggest that the stock is on the right path and analysts are convinced that this is strength.
Looking at the combination of favorable earnings estimates revisions and the strong stock performance, the current uptrend may continue a bit longer.
But far from favorable technical and attractive stock rally, looking at the recent developments like the $36.7 million acquisition deal with Coastal Bankshares goes all the way to paint the picture of a stock that has its best times ahead of the road.
Ameris Bancorp (NASDAQ:ABCB) on Tuesday last week announced that it was entering a deal that would see it joining forces with Coastal Bankshares. If the deal gets regulatory approval, it will lead to creation of combined company boasting 74 branch locations, $4.1 billion assets, $2.8 billion loans and $3.4 billion deposits.
This deal will also enable Ameris Bancorp to strengthen its profits and stem assets problems. Moreover, it will be a perfect way for the company to comply with the new regulatory measures in the finance sector.
Many banks and financial institutions of all sizes across the U.S. are acquiring small competitors and consolidating at the same time to ensure compliance with regulations.
Considering the performance record so far and the opportunities unfolding for Ameris Bancorp (NASDAQ:ABCB), it is safe to conclude that the stock has more energy to rise. Furthermore, the deal with Coastal offers the company a great opportunity to grow and expand its earnings.