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Ameris Bancorp (ABCB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Ameris Bancorp (ABCB) reported revenue of $268.22 million, up 0.2% over the same period last year. EPS came in at $1.10, compared to $0.86 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $259.71 million, representing a surprise of +3.28%. The company delivered an EPS surprise of +3.77%, with the consensus EPS estimate being $1.06.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Ameris Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency ratio: 55.6% versus 55.2% estimated by four analysts on average.

  • Net Interest Margin: 3.5% versus 3.5% estimated by four analysts on average.

  • Net charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on three analysts.

  • Average Balances-Interest earning assets: $23.21 billion versus $23.33 billion estimated by three analysts on average.

  • Net Interest Income (FTE): $202.34 million versus $203.23 million estimated by four analysts on average.

  • Total Non-Interest Income: $65.88 million versus the four-analyst average estimate of $56.48 million.

  • Net Interest Income: $201.39 million compared to the $201.70 million average estimate based on two analysts.

View all Key Company Metrics for Ameris Bancorp here>>>

Shares of Ameris Bancorp have returned +0.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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To read this article on Zacks.com click here.

Zacks Investment Research