On May 10, 2014, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
Ameris Bancorp has been witnessing rising earnings estimates on the
back of strong first-quarter 2014 results, steady organic growth
and a healthy capital position. The long-term expected earnings
growth rate for this stock is 8.00%. Further, the company
recorded a solid return of 34.1% in a year's time.
Ameris Bancorp reported its first-quarter results on Apr 22 with
earnings of 32 cents per share, which missed the Zacks Consensus
Estimate of 33 cents by 3.03%. However, earnings came in
significantly higher than the prior-year quarter figure of 20
Results in the reported quarter were primarily driven by rise in
revenues and lower provision for loan losses.
Net loans ascended 28.6% year over year, while total deposits grew
20.9%. This reflects organic growth of the company. Non-performing
assets as a percent of total assets declined 43 basis points to
On the flip side, a 15.1% rise in operating expenses and a 33.7%
increase in interest expenses were recorded.
For 2014, the Zacks Consensus Estimate increased 4.4% to $1.67 per
share over the last 60 days. For 2015, the Zacks Consensus Estimate
advanced 13.3% to $2.04 per share over the same time period.
Other Stocks to Consider
Apart from Ameris Bancorp, other Southeast banks worth considering
Capital City Bank Group Inc.
Farmers Capital Bank Corporation
). All of these stocks carry a Zacks Rank #1 (Strong
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AMERIS BANCORP (ABCB): Free Stock Analysis
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