- Total deposits for Ameris Bancorp in the second quarter were $21.93 billion, slightly below the estimate of $22.12 billion.
- Loans, net of unearned income, totaled $21.04 billion, exceeding the estimate of $20.92 billion.
- Net interest income on a fully taxable equivalent (FTE) basis was $232.7 million, surpassing the estimate of $225 million.
- The net interest margin was 3.77%, which was higher than the anticipated 3.67%.
- The bank held $249.7 million in cash and due from banks.
- Adjusted earnings per share (EPS) came in at $1.59, outperforming the expected $1.33.
- Total revenue reached $300.7 million, beating the forecast of $297.6 million.
- The efficiency ratio was 51.6%, better than the estimate of 52.8%.
- Return on average assets was 1.65%, outpacing the predicted 1.4%.
- Return on average equity stood at 11.4%, exceeding the estimate of 9.56%.
- Net charge-offs were significantly lower at $7.10 million, compared to the expected $13.3 million.
- Analyst recommendations: 5 buy ratings, 1 hold, and 0 sells.
A look at Ameris Bancorp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Ameris Bancorp appears to have a positive long-term outlook. With strong scores in Value, Resilience, and Momentum, the company seems well-positioned for future growth and stability. A high Value score indicates that the company is undervalued relative to its fundamentals, while a solid Resilience score suggests that Ameris Bancorp has the ability to weather economic uncertainties. Additionally, a strong Momentum score implies that the company is gaining positive traction in the market.
Ameris Bancorp, a multi-bank holding company operating in Georgia, Florida, and Alabama, offers a wide range of banking services to its customers. While the Dividend and Growth scores are not as high as the other factors, the overall positive Smart Scores indicate a favorable outlook for the company’s performance in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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