Ameris Bancorp (ABCB) Q2 Earnings Report Preview: What To Look For

Regional banking company Ameris Bancorp (NYSE:ABCB) will be reporting results this Monday afternoon. Here’s what you need to know.

Ameris Bancorp beat analysts’ revenue expectations by 3.6% last quarter, reporting revenues of $285.9 million, up 7% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ net interest income estimates and a solid beat of analysts’ EPS estimates.

Is Ameris Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Ameris Bancorp’s revenue to decline 1.3% year on year to $296.6 million, a reversal from the 8.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.33 per share.

Analysts covering the company have generally 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 four times over the last two years.

Looking at Ameris Bancorp’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Atlantic Union Bankshares delivered year-on-year revenue growth of 86.2%, beating analysts’ expectations by 12.5%, and Seacoast Banking reported revenues up 19.6%, topping estimates by 5%. Atlantic Union Bankshares traded down 1.9% following the results while Seacoast Banking’s stock price was unchanged.

Read our full analysis of Atlantic Union Bankshares’s results here and Seacoast Banking’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 4% on average over the last month. Ameris Bancorp is up 2.3% during the same time and is heading into earnings with an average analyst price target of $73 (compared to the current share price of $66.42).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.