Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Ameris Bancorp (ABCB) one of those stocks right now? 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 866 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Ameris Bancorp is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ABCB's full-year earnings has moved 6.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ABCB has moved about 22.1% on a year-to-date basis. Meanwhile, the Finance sector has returned an average of 14.7% on a year-to-date basis. This means that Ameris Bancorp is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Alerus (ALRS). The stock is up 21.7% year-to-date.
For Alerus, the consensus EPS estimate for the current year has increased 7.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ameris Bancorp is a member of the Banks - Southeast industry, which includes 54 individual companies and currently sits at #17 in the Zacks Industry Rank. Stocks in this group have gained about 7% so far this year, so ABCB is performing better this group in terms of year-to-date returns.
In contrast, Alerus falls under the Financial - Miscellaneous Services industry. Currently, this industry has 93 stocks and is ranked #68. Since the beginning of the year, the industry has moved +9.5%.
Ameris Bancorp and Alerus could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ameris Bancorp (ABCB): Free Stock Analysis Report Alerus Financial (ALRS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
