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Ameris Bancorp (ABCB)
NYSE:ABCB
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Ameris Bancorp
(NYSE:ABCB)
73Outperform
Ameris Bancorp (ABCB) vs. S&P 500 (SPY)
Market Cap
$3.87B
Dividend Yield1.25%
Average Volume (3M)505.47K
Price to Earnings (P/E)10.8
Beta (1Y)1.30
Revenue Growth8.49%
EPS Growth33.58%
CountryUS
Employees2,691
SectorFinancial
Sector Strength84
IndustryBanks - Regional
Share Statistics
EPS (TTM)5.19
Shares Outstanding69,068,610
10 Day Avg. Volume469,670
30 Day Avg. Volume505,466
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)N/A
Price to Sales (P/S)3.50
Price to Cash Flow (P/CF)7.70
P/FCF Ratio27.43
Enterprise Value/Market Cap1.18
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit4.13
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$75.00Price Target Upside33.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Ameris Bancorp Business Overview & Revenue Model
Company DescriptionAmeris Bancorp (ABCB) is a financial holding company headquartered in Atlanta, Georgia. It operates primarily through its wholly-owned subsidiary, Ameris Bank, which provides a comprehensive range of banking products and financial services. The company serves customers across the Southeastern United States, offering services such as commercial banking, retail banking, mortgage banking, and wealth management.
How the Company Makes MoneyAmeris Bancorp makes money primarily through interest income and non-interest income. Interest income is generated from loans and leases, which include commercial, residential, and consumer lending. The bank earns interest from the difference between the interest it charges on loans and the interest it pays on deposits (net interest margin). Non-interest income is derived from service charges on deposit accounts, wealth management fees, mortgage banking revenue, and other financial services. Additionally, Ameris Bancorp benefits from strategic acquisitions and partnerships that expand its market reach and enhance its service offerings, contributing to its overall profitability.
Ameris Bancorp Financial Statement Overview
Summary
Ameris Bancorp exhibits a solid financial foundation with strong equity and manageable debt levels, contributing to financial stability. Despite challenges in profitability and revenue growth, the company maintains positive free cash flows, indicating ongoing liquidity. However, attention to asset utilization and operational efficiency could further enhance its financial health.Income Statement
Ameris Bancorp has shown a mixed performance in terms of revenue growth. The 2023 to 2024 revenue saw a decline, though net profit margins improved, indicating better cost management or efficiency. The company has maintained a consistent gross profit margin, reflecting stable revenue streams within the banking sector. However, the absence of EBIT and EBITDA margins in 2024 suggests a need for better operational profitability tracking.70
Positive
Balance Sheet
The balance sheet indicates strong equity growth and a significantly low debt-to-equity ratio, which suggests financial stability and a conservative leverage strategy. The equity ratio remains robust, signaling a solid capitalization structure. However, the decreasing trend in total assets from 2023 to 2024 may require attention to asset utilization.75
Positive
Cash Flow
Cash flow analysis reveals a substantial drop in operating cash flow from 2023 to 2024, impacting free cash flow. The free cash flow to net income ratio has weakened, which could pose challenges for future investment or debt repayment. Despite this, the company maintains a positive free cash flow, indicating ongoing liquidity.65
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 1.10B | 1.45B | 1.09B | 1.02B | 1.08B | Gross Profit |
| 1.10B | 1.52B | 1.09B | 1.02B | 1.08B | EBIT |
| 0.00 | 2.79M | 545.96M | 496.11M | 340.24M | EBITDA |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Net Income Common Stockholders |
| 358.69M | 269.11M | 346.54M | 376.91M | 261.99M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 2.62B | 1.17B | 1.78B | 857.43M | 1.19B | Total Assets |
| 26.26B | 25.20B | 25.05B | 23.86B | 20.44B | Total Debt |
| 424.10M | 639.90M | 2.00B | 866.21M | 549.50M | Net Debt |
| -796.28M | -527.40M | 1.72B | 601.40M | 345.90M | Total Liabilities |
| 22.51B | 21.89B | 21.86B | 866.21M | 549.50M | Stockholders Equity |
| 26.04B | 3.43B | 3.20B | 2.97B | 2.65B |
| Cash Flow | Free Cash Flow | |||
| 133.94M | 551.43M | 1.05B | -16.31M | 780.28M | Operating Cash Flow |
| 133.94M | 568.96M | 1.06B | 9.14M | 798.40M | Investing Cash Flow |
| -24.00K | -338.19M | -4.87B | -420.98M | -1.20B | Financing Cash Flow |
| -157.29M | -181.59M | 865.53M | 2.36B | 1.90B |
Ameris Bancorp Technical Analysis
Neutral
56.02
Price Trends
57.83
Negative
61.33
Negative
61.37
Negative
Market Momentum
-0.74
Negative
52.91
Neutral
88.79
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABCB, the sentiment is Neutral. The current price of 56.02 is above the 20-day moving average (MA) of 53.80, below the 50-day MA of 57.83, and below the 200-day MA of 61.37, indicating a neutral trend. The MACD of -0.74 indicates Negative momentum. The RSI at 52.91 is Neutral, neither overbought nor oversold. The STOCH value of 88.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ABCB.
Ameris Bancorp Risk Analysis
Ameris Bancorp disclosed 37 risk factors in its most recent earnings report. Ameris Bancorp reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ameris Bancorp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $3.80B | 9.37 | 15.60% | 2.23% | 7.33% | -0.55% | |
73 Outperform | $3.87B | 10.79 | 9.99% | 1.25% | 8.49% | 33.58% | |
72 Outperform | $3.58B | 8.43 | 18.81% | ― | 26.87% | 10.56% | |
69 Neutral | $3.93B | 17.89 | 14.14% | 1.53% | 2.59% | 7.66% | |
64 Neutral | $3.55B | 12.32 | 7.30% | 4.91% | 26.09% | -19.05% | |
63 Neutral | $12.31B | 9.55 | 7.88% | 79.24% | 12.71% | -4.71% | |
61 Neutral | $3.63B | 45.21 | 4.23% | 8.73% | 14.25% | 10.46% |
* Financial Sector Average
Performance Comparison
ABCB
Ameris Bancorp
56.02
8.11
16.93%
BANF
BancFirst
118.12
30.96
35.52%
AX
Axos Financial
62.73
11.14
21.59%
IBOC
International Bancshares
61.08
5.85
10.59%
TFSL
TFS Financial
12.94
1.78
15.95%
AUB
Atlantic Union Bankshares
26.90
-4.53
-14.41%
Ameris Bancorp Earnings Call Summary
Earnings Call Date:Jan 30, 2025
(Q4-2024)
| % Change Since: -14.26%|
Next Earnings Date:Apr 28, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong financial performance for Ameris Bancorp in Q4 and throughout 2024, characterized by significant growth in net income, deposits, and efficiency improvements. However, challenges such as provision for credit losses and potential reversal of some margin expansion were noted. The company remains optimistic about its strategic positioning and growth prospects for 2025.Q4-2024 Updates
Positive Updates
Strong Financial Performance in Q4 and Full Year 2024
Reported a net income of $94.4 million or $1.37 per diluted share for Q4, and $358.7 million or $5.19 per diluted share for the full year 2024. Adjusted net income was $95.1 million for Q4 and $346.6 million for the full year, representing a 26% increase in year-over-year adjusted EPS.
Growth in Deposits and Reduction in Broker Deposits
Deposits grew by 5% for the year, with a reduction in broker deposits by $340 million. Core deposits grew by $675 million, or over 3%, in Q4.
Improvement in Efficiency Ratio and Operating Leverage
Adjusted efficiency ratio improved over 240 basis points in Q4 to under 52%. Total revenue increased 9.8% annualized, while expenses shrank by 1.9%, creating positive operating leverage.
Margin Expansion and Asset Growth
Net interest income increased by $7.7 million in Q4 with margin expanding by 13 basis points to 3.64%. Total assets grew to $26.3 billion from $25.2 billion last year.
Increase in Tangible Book Value and Equity Ratio
Tangible book value per share increased by 14.7% for the year. Tangible common equity ratio increased to 10.59% from 9.64% last year.
Negative Updates
Provision for Credit Losses and Nonperforming Assets
Recorded a $12.8 million provision for credit losses in Q4, with total nonperforming assets as a percentage of assets at 47 basis points.
Potential Reversal of Margin Expansion
7 basis points of the Q4 margin expansion was due to temporary deposit mix changes, which are expected to reverse as public funds decline in early 2025.
Decline in Loan Balances Due to Seasonality
Loan balances declined slightly in Q4 due to seasonality in the mortgage warehouse and premium finance businesses.
Company Guidance
During Ameris Bancorp's fourth quarter conference call, the company provided strong financial guidance, highlighting their robust performance and strategic positioning for 2025. Key metrics included an adjusted return on assets (ROA) of 1.43% for the fourth quarter, with a pure pre-provision net revenue (PPNR) ROA exceeding 2%. The return on tangible common equity was over 14%, and the quarter's net interest margin stood at 3.64%, showing an increase due to a favorable deposit mix and cost management. Ameris Bancorp reported a full-year 2024 net income of $358.7 million or $5.19 per diluted share, with an adjusted net income of $346.6 million or $5.02 per diluted share, marking a 26% year-over-year increase in adjusted earnings per share. The company also maintained a strong capital position with a tangible common equity ratio of 10.59% and a common equity Tier 1 ratio of 12.6%. Ameris Bancorp emphasized their strategic goals of maintaining top-tier profitability, enhancing revenue, and leveraging growth within their Southeastern footprint, setting a positive outlook for the upcoming year.Ameris Bancorp Corporate Events
DividendsFinancial Disclosures
Ameris Bancorp Reports Strong 2024 Financial Performance
Positive
Jan 30, 2025
Ameris Bancorp announced its financial results for the fourth quarter and full year 2024, showing strong performance with a net income of $94.4 million for Q4 and $358.7 million for the year, marking significant growth compared to 2023. The company achieved a revenue growth of 9.8% annualized, improved net interest margin, and increased dividends, reflecting a robust balance sheet and focus on efficiency, positioning it well for future success.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.