Long Position on ABCB @ $30.55 on 5/20/2016 (Momentum)

Ameris Bancorp (ABCB) opeates as the bank 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 four segments: Banking Division, Mortgage Division, Warehouse Lending Division, and SBA Division.

It accepts a range of commercial and retail checking accounts, regular interest-bearing savings accounts, money market accounts, individual retirement accounts, and certificates of deposit.

The company also offers commercial real estate, residential real estate mortgage, agricultural, and commercial and industrial loans; and consumer loans, including motor vehicle, home improvement, home equity, student, and signature loans, as well as small personal credit lines.

It operates 101 domestic banking offices and 9 mortgage production offices. Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. 

52-Weeks Trading Range: $24.01 - $35.21

Entry Point: $30.55

Stop Loss: $29.00

Target Price: $33.61

Updates

7/8/2016 11:17:38 AM

ABCB closed at $29.74

Position closed on 7/8/2016 at price of $29.74 with a -2.65% loss in 49 days.

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