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Ameris Bancorp (ABCB)
NYSE:ABCB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.19Last Year’s EPS
$1.07Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -0.35%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call presents a positive outlook with strong financial performance, including significant growth in tangible book value, robust capital levels, and high margin. However, there are challenges in the mortgage division with decreased noninterest income. Overall, the highlights significantly outweigh the lowlights.Company Guidance
During the Ameris Bancorp Third Quarter Earnings Call, the executives highlighted several key financial metrics showcasing the company's strong performance. The tangible book value per share grew at an annualized rate of 19% for the quarter, contributing to an 85% increase over the past five years. Profitability metrics were robust, with a PPNR ROA of 2%, an adjusted ROA of 1.43%, and a return on tangible common equity of 15%. The TCE ratio reached 10.2%, while the Common Equity Tier 1 ratio exceeded 12%. The CRE concentration to capital ratio improved to 270%, and the allowance for credit losses remained stable at a 1.60% coverage ratio. The net interest margin stood at 3.51%, supported by a strong core deposit base. Furthermore, the efficiency ratio improved to 54% from 55% last quarter. The company also executed a significant MSR sale, resulting in a pretax gain of over $5 million. Ameris Bancorp's asset base grew by 7.6% annualized, and the management expressed optimism for continued growth into 2025.Strong Tangible Book Value Growth
The company reported a 19% annualized growth rate in tangible book value per share for the quarter, with an 85% increase over the last 5 years.
Robust Capital Levels
Ameris Bancorp's TCE ratio is in the double digits at 10.2%, with Common Equity Tier 1 over 12%.
CRE Concentration Improvement
The company's CRE concentration to capital ratio improved to 270%, down from 295%.
High Margin and Interest Income
The third quarter margin was 3.51%, with net interest income increasing by $2.1 million.
MSR Sale and Nonperforming Loans Reduction
The sale of Ginnie Mae MSRs resulted in a pretax gain of over $5 million and reduced Ginnie Mae nonperforming loans by over 90%.
Asset Growth
Average earning assets grew by 7.6% annualized in the third quarter.
Loan Production Growth
Loan production in the quarter was $509 million, the highest in the past 4 quarters.
Positive Response to Storms
The company effectively managed the impact of Southeastern storms with minimal damage and committed funds to support recovery efforts.
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ABCB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ABCB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $63.03 | $61.25 | -2.82% |
| Jul 25, 2024 | $60.73 | $61.56 | +1.37% |
| Apr 25, 2024 | $47.25 | $47.62 | +0.78% |
| Jan 25, 2024 | $52.31 | $52.28 | -0.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ameris Bancorp (ABCB) report earnings?
Ameris Bancorp (ABCB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Ameris Bancorp (ABCB) earnings time?
Ameris Bancorp (ABCB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ABCB EPS forecast?
ABCB EPS forecast for the fiscal quarter 2024 (Q4) is $1.19.
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