Ameris Bancorp (ABCB) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Ameris Bancorp reported revenue of $284.74 million for the quarter ended September 2024, reflecting a year-over-year increase of 5.1% [1] - Earnings per share (EPS) for the quarter was $1.38, up from $1.16 in the same quarter last year, resulting in an EPS surprise of +9.52% against the consensus estimate of $1.26 [1] - The reported revenue was below the Zacks Consensus Estimate of $290.6 million, showing a surprise of -2.02% [1] Financial Metrics - Net interest margin (TE) was reported at 3.5%, slightly below the estimated 3.6% [1] - Efficiency ratio stood at 53.5%, higher than the average estimate of 52.2% [1] - Book value per share at period end was $53.30, exceeding the estimated $52.76 [1] - Average balances of total earning assets were $24.37 billion, lower than the estimated $24.52 billion [1] - Net charge-offs as a percent of average loans (annualized) were 0.2%, better than the average estimate of 0.3% [1] - Net interest income (TE) was $215.03 million, below the average estimate of $217.70 million [1] - Total non-interest income was $69.71 million, also below the average estimate of $72.90 million [1] - Net interest income was reported at $214.06 million, compared to the estimated $218 million [1] Stock Performance - Shares of Ameris Bancorp have returned +2.4% over the past month, outperforming the Zacks S&P 500 composite's +1.5% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]