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Ameris Bancorp (ABCB)
NYSE:ABCB
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Ameris Bancorp
(NYSE:ABCB)
Rating:70Neutral
Price Target:―
Ameris Bancorp (ABCB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.37B
Dividend Yield1.11%
Average Volume (3M)480.98K
Price to Earnings (P/E)11.8
Beta (1Y)1.27
Revenue Growth9.14%
EPS Growth31.69%
CountryUS
Employees2,045
SectorFinancial
Sector Strength82
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.28
Shares Outstanding68,910,930
10 Day Avg. Volume319,525
30 Day Avg. Volume480,976
Financial Highlights & Ratios
PEG Ratio1.36
Price to Book (P/B)0.16
Price to Sales (P/S)0.00
P/FCF Ratio29.56
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue0.77
Enterprise Value/Gross Profit3.15
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$71.33Price Target Upside15.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
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 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. While profitability and revenue growth have faced some challenges, the company remains capable of generating positive free cash flows. 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 | |||
| 140.72M | 551.43M | 1.05B | -16.31M | 780.28M | Operating Cash Flow |
| 154.19M | 568.96M | 1.06B | 9.14M | 798.40M | Investing Cash Flow |
| -846.68M | -338.19M | -4.87B | -420.98M | -1.20B | Financing Cash Flow |
| 745.56M | -181.59M | 865.53M | 2.36B | 1.90B |
Ameris Bancorp Technical Analysis
Positive
61.62
Price Trends
57.32
Positive
60.40
Positive
61.64
Negative
Market Momentum
1.78
Negative
57.87
Neutral
67.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABCB, the sentiment is Positive. The current price of 61.62 is above the 20-day moving average (MA) of 60.56, above the 50-day MA of 57.32, and below the 200-day MA of 61.64, indicating a neutral trend. The MACD of 1.78 indicates Negative momentum. The RSI at 57.87 is Neutral, neither overbought nor oversold. The STOCH value of 67.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 3 New Risks
1.
The stock price of financial institutions, like Ameris, can be volatile. Q4, 2024
2.
We may be unable to pay dividends on our Common Stock. Q4, 2024
3.
If we lose or are unable to grow and retain our deposits, we may be subject to liquidity risk and higher funding costs. Q4, 2024
Ameris Bancorp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $4.05B | 9.45 | 17.80% | ― | 15.93% | 0.17% | |
80 Outperform | $4.05B | 9.94 | 15.20% | 2.09% | 4.24% | 0.38% | |
71 Outperform | $4.33B | 13.90 | 7.30% | 4.35% | 26.09% | -19.05% | |
70 Neutral | $4.37B | 11.75 | 10.19% | 1.11% | 9.14% | 31.69% | |
69 Neutral | $4.31B | 19.64 | 14.14% | 1.40% | 2.59% | 7.66% | |
67 Neutral | $3.78B | 46.86 | 4.22% | 8.38% | 8.99% | 3.89% | |
64 Neutral | $12.78B | 9.87 | 7.67% | 17015.06% | 12.34% | -5.99% |
* Financial Sector Average
Performance Comparison
ABCB
Ameris Bancorp
61.62
12.69
25.94%
BANF
BancFirst
125.91
38.19
43.54%
AX
Axos Financial
69.34
8.73
14.40%
IBOC
International Bancshares
63.41
6.32
11.07%
TFSL
TFS Financial
13.20
1.16
9.63%
AUB
Atlantic Union Bankshares
29.45
-2.87
-8.88%
Ameris Bancorp Earnings Call Summary
Earnings Call Date:Apr 28, 2025
(Q1-2025)
| % Change Since: 8.18%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong performance in profitability, net interest margin expansion, and capital growth. However, there were challenges with increased provisions for credit losses and a decline in non-interest income.Q1-2025 Updates
Positive Updates
Strong Profitability Metrics
Ameris Bancorp reported a 136 ROA, over 2% PPNR ROA, and a return on tangible common equity of over 13% for the first quarter of 2025.
Net Interest Margin Expansion
The net interest margin expanded by 9 basis points to 3.73%, well above most peers, aided by a strong 30% level of non-interest bearing deposits.
Capital and Shareholder Value Growth
Tangible book value grew by over 12.5%, common equity Tier 1 reached 12.9%, and the company repurchased $15 million of stock.
Deposit Growth
Deposits increased by $190 million, a 4% annualized growth, with non-interest bearing deposits growing at a 15% annualized rate.
Negative Updates
Provision for Credit Losses
Recorded a $21.9 million provision for credit losses, increasing the reserve to 1.67% of loans, influenced by a shift in economic forecast weightings.
Decline in Non-Interest Income
Non-interest income decreased by $4.9 million, with reduced gains on the sale of SBA loans ($3.2 million) and a decline in mortgage division revenue ($1.4 million).
Company Guidance
During the Ameris Bancorp's first-quarter conference call for fiscal year 2025, the company provided detailed guidance on its financial performance and strategic focus. The bank reported a strong start with a return on assets (ROA) of 136 and a pre-provision net revenue (PPNR) ROA exceeding 2%. The return on tangible common equity was over 13%, and the net interest margin expanded to 3.73%, supported by a robust 30% level of non-interest-bearing deposits. The efficiency ratio improved by 281 basis points compared to the previous year, reflecting effective expense control. The loan-to-deposit ratio decreased to 94% from 98% a year ago, and concentrations in CRE and construction loans were reduced to 261 and 57, respectively. Capital positions remained strong, with a common equity Tier 1 ratio of 12.9% and tangible common equity (TCE) at 10.8%. The company's tangible book value grew by over 12.5%, and $15 million of stock was repurchased. Deposit growth was reported at 4% annualized, with non-interest-bearing deposits growing at a 15% annualized rate. Looking forward, the bank anticipates mid-single-digit growth in loans and deposits for 2025 and expects the net interest margin to normalize above 3.60% in the coming quarters.Ameris Bancorp Corporate Events
Business Operations and StrategyFinancial Disclosures
Ameris Bancorp Reports Strong Q1 2025 Financial Results
Positive
Apr 28, 2025
Ameris Bancorp reported strong financial results for the first quarter of 2025, with net income of $87.9 million, a 12.5% annualized growth in tangible book value, and a net interest margin expansion to 3.73%. The company saw growth in noninterest-bearing deposits, representing 30.8% of total deposits, and improved its tangible common equity ratio to 10.78%. Despite economic uncertainties, Ameris Bancorp remains focused on customer service, balance sheet management, and operational efficiency, positioning itself well for future growth in its Southeast markets.
Spark’s Take on ABCB Stock
According to Spark, TipRanks’ AI Analyst, ABCB is a Outperform.
Ameris Bancorp demonstrates a solid financial position with strong equity growth and a favorable P/E ratio, enhancing its attractiveness. The recent earnings call highlights robust performance and strategic growth plans, though caution is warranted due to some operational challenges and bearish technical indicators. Despite these challenges, the company’s strong financial foundation and growth prospects contribute positively to its overall stock score.
To see Spark’s full report on ABCB stock, click here.
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.