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Has Ameris Bancorp (ABCB) Outpaced Other Finance Stocks This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ameris Bancorp (ABCB - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Ameris Bancorp is a member of the Finance sector. This group includes 887 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Ameris Bancorp is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ABCB's full-year earnings has moved 1.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ABCB has returned 0.2% so far this year. At the same time, Finance stocks have lost an average of 19.7%. This means that Ameris Bancorp is outperforming the sector as a whole this year.
Carter Bankshares, Inc. (CARE - Free Report) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.6%.
For Carter Bankshares, Inc. the consensus EPS estimate for the current year has increased 13% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ameris Bancorp belongs to the Banks - Southeast industry, a group that includes 63 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has lost an average of 3.1% so far this year, so ABCB is performing better in this area.
On the other hand, Carter Bankshares, Inc. belongs to the Banks - Northeast industry. This 88-stock industry is currently ranked #13. The industry has moved -15.8% year to date.
Investors interested in the Finance sector may want to keep a close eye on Ameris Bancorp and Carter Bankshares, Inc. as they attempt to continue their solid performance.