Regional banking company Ameris Bancorp (NYSE: ABCB) will be announcing earnings results this Thursday afternoon. Here’s what to look for.
Ameris Bancorp beat analysts’ revenue expectations last quarter, reporting revenues of $315.3 million, up 10% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ net interest income estimates but a slight miss of analysts’ tangible book value per share estimates.
Is Ameris Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ameris Bancorp’s revenue to grow 7.3% year on year, improving from the 6.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ameris Bancorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ameris Bancorp’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and BOK Financial reported revenues up 10.1%, topping estimates by 2.8%. BOK Financial’s stock price was unchanged following the results.
Read our full analysis of OFG Bancorp’s results here and BOK Financial’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 4.8% on average over the last month. Ameris Bancorp is up 3.7% during the same time and is heading into earnings with an average analyst price target of $95.17 (compared to the current share price of $90.60).
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