For its second fiscal quarter (ending June 30), Ameris Bancorp (NASDAQ: ABCB) has reported a 45% increase in E.P.S. from $0.91 a year ago to $1.32 in the current quarter. This performance was $0.18 better than the consensus estimate of $1.14. E.P.S. were $4.52 for the latest four quarters through June 30 versus $4.31 for the same period a year ago — an increase of 5%.
Recent Price Action
Ameris Bancorp (NASDAQ: ABCB) stock enjoyed a large increase of 2.2% on 7/25/24. The stock closed at $60.88. Moreover, trading volume in this advance was unusually high at 178% of normal. The stock has been strong relative to the market over the last nine months and has risen 2.7% during the last week.
Current PriceTarget Research Rating
ABCB is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Ameris Bancorp has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Ameris Bancorp has a slightly positive Power Rating of 62 and a good Appreciation Score of 80, and the Highest Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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