- Total deposits for Ameris Bancorp in the first quarter were $21.91 billion, closely matching the estimate of $21.87 billion.
- Net loans amounted to $20.71 billion, slightly below the estimated $20.84 billion.
- Net interest income on a fully taxable equivalent basis was $222.8 million, surpassing the expected $214.6 million.
- The net interest margin came in at 3.73%, exceeding the estimate of 3.56%.
- Cash and due from banks remained at $253.3 million.
- Adjusted earnings per share (EPS) was $1.28, higher than the anticipated $1.14.
- Total revenue reached $285.9 million, above the projected $276.6 million.
- The efficiency ratio was reported at 52.8%, better than the estimated 56.4%.
- Return on average assets was 1.36%, exceeding expectations of 1.21%.
- Return on average equity was 9.39%, above the forecast of 8.38%.
- Net charge-offs were $9.05 million, lower than the anticipated $12.5 million.
- Analyst recommendations include 5 buys, 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 shows a promising long-term outlook. The company scores high in value, resilience, and momentum with scores of 4 in each category. This indicates that Ameris Bancorp is considered to have strong fundamentals, a resilient business model, and positive momentum in the market. While its growth and dividend scores are slightly lower at 3 and 2 respectively, the overall outlook remains positive.
Ameris Bancorp, a multi-bank holding company operating in Georgia, Florida, and Alabama, seems well-positioned for the future according to the Smartkarma Smart Scores. Investors may find comfort in the company’s strong value, resilience, and momentum ratings, indicating a solid foundation and growth potential. Despite slightly lower scores in growth and dividends, Ameris Bancorp‘s overall outlook appears favorable for long-term investment.
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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