NasdaqGS:ABCB

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. More Details


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has Ameris Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ABCB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

7.5%

ABCB

1.4%

US Banks

2.3%

US Market


1 Year Return

-42.1%

ABCB

-28.2%

US Banks

17.2%

US Market

Return vs Industry: ABCB underperformed the US Banks industry which returned -28.4% over the past year.

Return vs Market: ABCB underperformed the US Market which returned 15.8% over the past year.


Shareholder returns

ABCBIndustryMarket
7 Day7.5%1.4%2.3%
30 Day-7.2%-8.1%-4.6%
90 Day2.8%-2.1%7.4%
1 Year-40.7%-42.1%-25.6%-28.2%19.8%17.2%
3 Year-50.8%-52.9%-21.8%-28.2%37.4%28.3%
5 Year-14.9%-20.0%14.1%0.09%83.8%63.0%

Price Volatility Vs. Market

How volatile is Ameris Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ameris Bancorp undervalued compared to its fair value and its price relative to the market?

20.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ABCB ($22.76) is trading below our estimate of fair value ($28.49)

Significantly Below Fair Value: ABCB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ABCB is poor value based on its PE Ratio (11.8x) compared to the US Banks industry average (9.4x).

PE vs Market: ABCB is good value based on its PE Ratio (11.8x) compared to the US market (18x).


Price to Earnings Growth Ratio

PEG Ratio: ABCB is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: ABCB is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Ameris Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

17.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ABCB's forecast earnings growth (17% per year) is above the savings rate (2.2%).

Earnings vs Market: ABCB's earnings (17% per year) are forecast to grow slower than the US market (22.8% per year).

High Growth Earnings: ABCB's earnings are forecast to grow, but not significantly.

Revenue vs Market: ABCB's revenue is expected to decline over the next 3 years (-3.5% per year).

High Growth Revenue: ABCB's revenue is forecast to decline over the next 3 years (-3.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ABCB's Return on Equity is forecast to be low in 3 years time (7.9%).


Next Steps

Past Performance

How has Ameris Bancorp performed over the past 5 years?

27.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ABCB has a high level of non-cash earnings.

Growing Profit Margin: ABCB's current net profit margins (16.7%) are lower than last year (32.2%).


Past Earnings Growth Analysis

Earnings Trend: ABCB's earnings have grown significantly by 27% per year over the past 5 years.

Accelerating Growth: ABCB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ABCB had negative earnings growth (-18%) over the past year, making it difficult to compare to the Banks industry average (-3%).


Return on Equity

High ROE: ABCB's Return on Equity (5.5%) is considered low.


Next Steps

Financial Health

How is Ameris Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ABCB's Assets to Equity ratio (8.1x) is low.

Allowance for Bad Loans: ABCB has a sufficient allowance for bad loans (225%).

Low Risk Liabilities: 90% of ABCB's liabilities are made up of primarily low risk sources of funding.

Loan Level: ABCB has an appropriate level of Loans to Assets ratio (72%).

Low Risk Deposits: ABCB's Loans to Deposits ratio (92%) is appropriate.

Level of Bad Loans: ABCB has an appropriate level of bad loans (0.6%).


Next Steps

Dividend

What is Ameris Bancorp current dividend yield, its reliability and sustainability?

2.64%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ABCB's dividend (2.64%) is higher than the bottom 25% of dividend payers in the US market (1.71%).

High Dividend: ABCB's dividend (2.64%) is low compared to the top 25% of dividend payers in the US market (4.83%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, ABCB has been paying a dividend for less than 10 years.

Growing Dividend: ABCB's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31%), ABCB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ABCB's dividends in 3 years are forecast to be well covered by earnings (19.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

H. Proctor (52 yo)

1.17yrs

Tenure

US$1,579,381

Compensation

Mr. H. Palmer Proctor, Jr., serves as the Chief Executive Officer and Director at Ameris Bancorp since July 1, 2019 and was its President since July 1, 2019 until October 2019. He serves as the Chief Execu ...


CEO Compensation Analysis

Compensation vs Market: H.'s total compensation ($USD1.58M) is below average for companies of similar size in the US market ($USD4.58M).

Compensation vs Earnings: Insufficient data to compare H.'s compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
James Miller
Executive Chairman1.17yrsUS$1.15m3.22%
$ 50.8m
H. Proctor
CEO & Director1.17yrsUS$1.58m0.68%
$ 10.7m
Lawton Bassett
Banking Group President4.5yrsUS$1.22m0.095%
$ 1.5m
Nicole Stokes
Executive VP & CFO2.67yrsUS$1.11m0.027%
$ 433.3k
Andrew Cheney
Non-Employee Advisor2.75yrsUS$542.02k0.0061%
$ 95.9k
William McKendry
Executive VP & Chief Risk Officer3yrsUS$1.05m0.031%
$ 496.1k
Cindi Lewis
Executive VP14.33yrsUS$220.10k0.14%
$ 2.2m
Angela Redd
Corporate Executive Assistant4.67yrsno datano data
Jody Spencer
Executive VP & General Counsel1.67yrsno data0.020%
$ 314.7k
James LaHaise
Executive VP & Chief Strategy Officer6.25yrsUS$835.04k0.076%
$ 1.2m
Ross Creasy
Executive VP & Chief Innovation Officer1.17yrsno data0.0096%
$ 152.1k
Michael Pierson
Executive VP & Chief Governance Officer0.50yrno data0.062%
$ 973.1k

2.7yrs

Average Tenure

51yo

Average Age

Experienced Management: ABCB's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
James Miller
Executive Chairman1.17yrsUS$1.15m3.22%
$ 50.8m
H. Proctor
CEO & Director1.17yrsUS$1.58m0.68%
$ 10.7m
Jimmy Veal
Independent Director12.33yrsUS$120.64k0.14%
$ 2.2m
Robert Lynch
Independent Director20.5yrsUS$135.10k0.30%
$ 4.7m
Daniel Jeter
Independent Director13.33yrsUS$134.81k0.060%
$ 943.6k
Elizabeth McCague
Independent Director4.08yrsUS$126.44k0.020%
$ 321.5k
Leo Hill
Vice Chairman of the Board & Lead Independent Directorno dataUS$140.11k0.036%
$ 571.7k
William Stern
Independent Director6.83yrsUS$130.64k0.046%
$ 731.1k
Robert Ezzell
Independent Director10.33yrsUS$125.05k0.055%
$ 863.3k
William Bowen
Independent Director5.83yrsUS$120.64k0.029%
$ 461.2k
Gloria O'Neal
Independent Director1.17yrsUS$77.70k0.011%
$ 172.6k
Rodney Bullard
Independent Director1.17yrsUS$77.70k0.0099%
$ 156.0k

5.8yrs

Average Tenure

66yo

Average Age

Experienced Board: ABCB's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ABCB insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ameris Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ameris Bancorp
  • Ticker: ABCB
  • Exchange: NasdaqGS
  • Founded: 1971
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.577b
  • Shares outstanding: 69.31m
  • Website: https://www.amerisbank.com

Number of Employees


Location

  • Ameris Bancorp
  • 3490 Piedmont Road NE
  • Suite 1550
  • Atlanta
  • Georgia
  • 30305
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ABCBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMay 1994
AXUDB (Deutsche Boerse AG)YesCommon StockDEEURMay 1994

Biography

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/30 00:41
End of Day Share Price2020/09/29 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.