Regional banking company Ameris Bancorp (NYSE: ABCB) will be announcing earnings results this Thursday after the bell. Here’s what investors should know.
Ameris Bancorp met analysts’ revenue expectations last quarter, reporting revenues of $309.9 million, up 6.4% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ net interest income estimates but a narrow beat of analysts’ EPS 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 7.7% year on year, in line with the 7.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.2%, beating analysts’ expectations by 4.8%, and East West Bank reported revenues up 11.8%, topping estimates by 2.8%.
Read our full analysis of OFG Bancorp’s results here and East West Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.8% on average over the last month. Ameris Bancorp is up 11.5% during the same time and is heading into earnings with an average analyst price target of $89.93 (compared to the current share price of $84.50).
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