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Ameris (ABCB)
NYSE:ABCB
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Ameris Bancorp
(NYSE:ABCB)
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Rating:71Outperform
Price Target:
$91.00
▲(15.47% Upside)
Action:ReiteratedDate:02/27/26
The score is driven primarily by solid fundamentals (profitability and a strong, conservatively levered balance sheet), partially offset by cash flow volatility. Earnings-call guidance and sentiment were constructive, while technicals are mixed and valuation is reasonable but not especially supported by yield.
Positive Factors
Consistent profitability and NIM expansion
Record FY2025 earnings and expanding net interest margin demonstrate durable core earnings power from spread-based lending. Stable ~10% ROE and positive operating leverage indicate the bank can sustain profitability through the rate/credit cycle while funding franchise growth.
Conservative leverage and strong capital ratios
Improving debt-to-equity, CET1 at 13.2% and tangible common equity around 11.4% provide long-term financial flexibility. This capital cushion supports organic loan growth, loss absorption, regulatory compliance, and continued shareholder returns without jeopardizing franchise stability.
Strong loan production and capacity for capital returns
A sizable production pipeline and rising earning assets combined with an active buyback program show franchise momentum and optionality. The ability to grow loans while returning capital reflects effective balance sheet management and durable capacity to enhance shareholder value.
Negative Factors
Volatile operating and free cash flow
Large swings in operating and free cash flow undermine predictability of internal funding for growth and buybacks. If weak cash generation persists, management may have to curtail capital returns, raise external funding, or slow organic expansion, increasing execution risk.
Margin pressure from deposit funding competition
Management guidance for 5–10 bps NIM compression from deposit cost pressure signals structural funding challenges. Persistent competition for deposits and a lower noninterest-bearing deposit mix can erode net interest spread and restrain long-term margin sustainability as loan growth requires higher-cost funding.
Mortgage revenue and servicing volatility
Material swings in mortgage revenue and MSR-related income make noninterest income less reliable. Given the bank's modest mortgage servicing scale and seasonal volatility, fee income instability could increase earnings cyclicality and weaken diversified revenue resilience over time.
Ameris Bancorp (ABCB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.35B
Dividend Yield1.02%
Average Volume (3M)543.55K
Price to Earnings (P/E)12.3
Beta (1Y)1.04
Revenue Growth2.20%
EPS Growth20.88%
CountryUS
Employees2,045
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.59
Shares Outstanding67,880,295
10 Day Avg. Volume598,723
30 Day Avg. Volume543,550
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)1.25
Price to Sales (P/S)3.05
P/FCF Ratio13.75
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue3.49
Enterprise Value/Gross Profit5.15
Enterprise Value/Ebitda9.60
Forecast
1Y Price Target
$89.42Price Target Upside13.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)6.5
Revenue Forecast (FY)$1.27B
Ameris Bancorp Business Overview & Revenue Model
Company DescriptionAmeris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. It offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts. The company also provides commercial real estate, residential real estate mortgage, agricultural, and commercial and industrial loans; consumer loans, including motor vehicle, home improvement, and home equity loans, as well as loans secured by savings accounts and small unsecured personal credit lines. In addition, it originates, administers, and services commercial insurance premium loans and small business administration loans. The company operates 165 full service domestic banking offices and 35 mortgage and loan production offices. Ameris Bancorp was founded in 1971 and is headquartered in Atlanta, Georgia.
How the Company Makes MoneyAmeris Bancorp generates revenue primarily through interest income and non-interest income. Interest income is derived from loans made to consumers and businesses, including commercial real estate loans, residential mortgages, and consumer loans. The interest earned on these loans is a significant portion of the company's revenue. Non-interest income comes from various sources, including service fees on deposit accounts, mortgage origination fees, and wealth management services. Additionally, Ameris Bancorp has strategic partnerships with other financial institutions and technology providers that enhance its service offerings and customer reach, contributing to its overall earnings. The bank's focus on expanding its footprint through acquisitions and new branches also plays a critical role in driving growth and profitability.
Ameris Bancorp Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call emphasized multiple strong positive operating and capital outcomes: record net income and EPS, margin and efficiency improvements, robust loan production and pipelines, tangible book value growth (~14.5%), and disciplined capital returns including buybacks. Near-term headwinds include deposit cost pressure that could compress margin (management expects a modest 5–10 bps decline), seasonal Q1 expense increases, mortgage revenue volatility, elevated Q4 CRE payoffs that temporarily reduced net loan growth, and a short-term uptick in quarterly net charge-offs. Overall, the positives around core profitability, asset quality and capital strength outweigh the transitory and manageable challenges called out.Q4-2025 Updates
Positive Updates
Record Annual Earnings and EPS Growth
Reported record net income for FY2025 of $412.2 million and diluted EPS of $6.00, a 15% increase in EPS year-over-year.
Strong Quarterly Results and Profitability Metrics
Q4 net income of $108.4 million ($1.59 diluted EPS); Q4 PPNR ROA of 2.38% and Q4 ROTCE of 14.5%; quarterly ROA approximately 1.57%.
Net Interest Income and Margin Expansion
Net interest income increased $87.7 million (+10.3%) for the year; Q4 NII up $7.3 million (12.2% annualized). Net interest margin expanded to 3.79% for FY2025 from 3.56% in 2024, and Q4 NIM was 3.85% (5 bps expansion quarter-over-quarter).
Revenue Growth with Expense Discipline
Reported 6% revenue growth for the year while total expenses declined ~1% year-over-year; positive operating leverage pushed full-year efficiency ratio to 50% (improved from 53.2% in prior year) and Q4 efficiency ratio of 46.6%.
Balance Sheet and Loan Production Momentum
Earning assets grew ~5.5% for the year and total assets grew 4.8% year-over-year. Q4 earning-asset growth was ~6%; loan production was the highest since 2022 at $2.4 billion for the quarter (16% increase vs Q3). Core loan growth nearly 5% in Q4 despite elevated CRE payoffs.
Capital Strength and Share Repurchases
Common Equity Tier 1 at 13.2% and tangible common equity ratio at 11.4%. Repurchased $77 million of stock for the year (~2% of company) at an average price under $67; Q4 buybacks totaled $40.8 million (~564k shares) at an average price of $72.36. Remaining buyback authorization ~$159.2 million.
Asset Quality and Allowance Position
Allowance for loan losses at 1.62% of loans (stable q/q). Full-year net charge-offs improved to 18 bps (from 19 bps prior year). Nonperforming assets, classified and criticized loans remained low.
Mortgage Servicing Scale and Other Fee Income
Unpaid principal balance of servicing portfolio approximately $8.7 billion (about 4% of Tier 1 capital). Adjusted noninterest income was roughly flat for the year (+$1.4 million).
Negative Updates
Pressure on Margin from Deposit Costs
Management expects slight margin compression over the next few quarters driven by rising deposit costs as loan growth accelerates; guidance calls for a 5–10 basis point decline from current NIM levels in the near term.
Elevated CRE Payoffs Impacting Loan Growth
Unusually high commercial real estate payoffs in Q4 exceeded $500 million; these payoffs reduced net loan growth (management said loan growth would have approached double digits absent these payoffs).
Mortgage Segment Volatility and Revenue Declines
Adjusted noninterest income decreased $10.5 million in Q4 primarily due to seasonal mortgage declines; mortgage revenue was down about $13 million (~8%) year-over-year, driven by mix shifts (heavier wholesale) and MSR valuation/transaction impacts.
Near-Term Expense Headwinds (Seasonality)
Q1 expected to see higher noninterest expense due to seasonally heavy payroll taxes and 401(k) contributions — management estimates a Q1 expense range of roughly $154–$155 million versus Q4’s $143 million (a ~$7.5 million seasonal swing).
Short-Term Rise in Quarterly Net Charge-Offs
Annualized net charge-offs in Q4 normalized to 26 basis points (above the full-year average of 18 bps); management guides for net charge-offs in the 20–25 bps range for 2026.
Deposit Mix Seasonality and Competitive Funding Environment
Noninterest-bearing deposit ratio dipped to ~28.7% at year-end due to seasonal escrow outflows and some customer movements (20–30 customers); management notes increasing competition for deposits and potential pricing pressure from new entrants offering high rates.
Company Guidance
Management guided to mid-single-digit loan and deposit growth in 2026, with net charge-offs expected in the 20–25 bps range and modest margin compression of roughly 5–10 bps from Q4’s 3.85% over the next few quarters; they also flagged that deposit pressure as loan growth funds could drive that compression. They expect Q1 noninterest expense to start around $154–155 million (reflecting a roughly $7.5 million seasonal payroll/401(k) swing), which should push the efficiency ratio back above 50% in Q1 (Q4: 46.6%; FY25: 50%). Credit and provision guidance included a Q4 provision of $23 million (with $6.3 million for unfunded commitments), an allowance at 1.62% of loans, and the stated NCO guidance above, while management emphasized a strong pipeline and production (citing record-quarter production and a $2.4 billion pipeline) despite Q4 CRE payoffs of over $500 million that left loans up ~5% and earning assets up ~6% in the quarter. Capital priorities remain organic growth then buybacks/dividends (remaining repurchase authorization ~$159.2 million after $40.8 million repurchased in Q4 and $77 million for the year), with year-end CET1 at 13.2% and tangible common equity ~11.4% and longer-term targets around CET1 ≈12% and TCE ≈10–10.5%.Ameris Bancorp Financial Statement Overview
Summary
Strong profitability and improving revenue trends, supported by a conservatively levered balance sheet and stable ~10% ROE. The main drag is highly volatile operating/free cash flow, with a sharp collapse in 2024–2025 after very strong 2022–2023.Income Statement
Revenue has grown over time, with a particularly strong jump in 2023 and continued gains through 2025, supporting improving scale. Profitability remains solid: net margins are healthy and have rebounded since 2023, while operating profitability also improved versus 2023. The main weakness is volatility versus the 2021–2022 peak, when margins were materially higher, indicating earnings power can swing with the rate/credit cycle.78
Positive
Balance Sheet
Leverage looks conservative for the period shown, with debt-to-equity improving sharply from 2022 and remaining low in 2024–2025, which strengthens flexibility. Equity has grown steadily alongside asset growth, and returns on equity have been stable around ~10% in 2023–2025. A key watch item is the step-up in debt in 2025 versus 2024, even though leverage remains manageable.80
Positive
Cash Flow
Cash generation is inconsistent: operating cash flow and free cash flow were very strong in 2022–2023, collapsed in 2024–2025, and 2021 was notably weak with negative free cash flow. Free cash flow tracking net income is generally good when cash flow is positive, but the sharp decline in 2025 free cash flow (down materially year-over-year) raises questions about sustainability and timing-related swings.55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.67B | 1.63B | 1.49B | 1.14B | 1.04B |
| Gross Profit | 1.14B | 1.05B | 899.85M | 976.89M | 1.03B |
| EBITDA | 533.76M | 522.59M | 402.87M | 506.72M | 544.04M |
| Net Income | 412.15M | 358.69M | 269.11M | 346.54M | 376.91M |
Balance Sheet | |||||
| Total Assets | 27.52B | 26.26B | 25.20B | 25.05B | 23.86B |
| Cash, Cash Equivalents and Short-Term Investments | 253.81M | 2.89B | 2.57B | 2.62B | 4.64B |
| Total Debt | 743.02M | 424.10M | 639.90M | 2.00B | 872.05M |
| Total Liabilities | 23.44B | 22.51B | 21.78B | 21.86B | 20.89B |
| Stockholders Equity | 4.08B | 3.75B | 3.43B | 3.20B | 2.97B |
Cash Flow | |||||
| Free Cash Flow | 369.64M | 140.72M | 551.43M | 1.05B | -16.31M |
| Operating Cash Flow | 390.18M | 154.19M | 568.96M | 1.06B | 9.14M |
| Investing Cash Flow | 1.94M | -846.68M | -338.19M | -4.87B | -420.98M |
| Financing Cash Flow | -248.15M | 745.56M | -181.59M | 865.53M | 2.36B |
Ameris Bancorp Technical Analysis
Neutral
78.81
Price Trends
80.15
Negative
77.21
Positive
72.60
Positive
Market Momentum
-0.53
Positive
43.22
Neutral
42.13
Neutral
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 78.81 is below the 20-day moving average (MA) of 82.12, below the 50-day MA of 80.15, and above the 200-day MA of 72.60, indicating a neutral trend. The MACD of -0.53 indicates Positive momentum. The RSI at 43.22 is Neutral, neither overbought nor oversold. The STOCH value of 42.13 is Neutral, 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $5.00B | 9.54 | 16.75% | ― | 1.66% | -9.31% | |
75 Outperform | $4.31B | 14.19 | 15.96% | 1.82% | 3.97% | 24.91% | |
73 Outperform | $4.34B | 14.58 | 13.89% | 2.42% | 12.90% | 16.92% | |
71 Outperform | $5.35B | 12.33 | 10.53% | 1.02% | 2.20% | 20.88% | |
70 Outperform | $5.30B | 10.89 | 11.27% | 2.74% | -0.78% | 25.39% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $5.21B | 11.17 | 6.72% | 3.83% | 43.53% | -21.74% |
* Financial Sector Average
ABCB
Ameris Bancorp
78.81
20.57
35.33%
AX
Axos Financial
88.28
23.63
36.55%
FFIN
First Financial Bankshares
30.30
-5.25
-14.76%
HWC
Hancock Whitney
64.92
13.49
26.24%
AUB
Atlantic Union Bankshares
36.56
4.82
15.19%
SFBS
ServisFirst Bancshares
78.90
-4.97
-5.93%
Ameris Bancorp Corporate Events
Executive/Board Changes
Ameris Bancorp Announces Retirement of Chief Strategy Officer
Neutral
Feb 24, 2026
Ameris Bancorp announced on February 24, 2026, that Corporate Executive Vice President and Chief Strategy Officer James A. LaHaise will retire effective April 30, 2026, after entering into a Retirement Agreement and Release on February 19, 2026. Under the agreement, LaHaise will provide transition and support services for three months after his retirement date, receive an annual retirement benefit of $100,000 for ten years under an existing supplemental retirement plan, and have his equity awards handled in accordance with existing plan terms, with these benefits contingent on his executing and not revoking required claim releases.
The most recent analyst rating on (ABCB) stock is a Hold with a $86.00 price target. To see the full list of analyst forecasts on Ameris Bancorp stock, see the ABCB Stock Forecast page.
Stock BuybackFinancial Disclosures
Ameris Bancorp Posts Record 2025 Earnings and Profitability
Positive
Jan 29, 2026
On January 29, 2026, Ameris Bancorp reported strong fourth-quarter and record full-year 2025 results, highlighted by fourth-quarter net income of $108.4 million, or $1.59 per diluted share, and a return on average assets of 1.57%, supported by a higher net interest margin of 3.85%, solid loan and earning-asset growth, tighter expense control and an improved efficiency ratio. For the full year 2025, net income rose to $412.2 million, or $6.00 per diluted share, driven chiefly by a 10.3% increase in net interest income, while deposits and earning assets expanded, tangible book value per share grew 14.5%, credit quality improved with lower net charge-offs and a higher allowance ratio, and the company returned capital through increased share repurchases, underscoring stronger profitability, capital levels and operating efficiency that reinforce its competitive positioning in the Southeast banking market.
The most recent analyst rating on (ABCB) stock is a Hold with a $83.00 price target. To see the full list of analyst forecasts on Ameris Bancorp stock, see the ABCB Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.