Keefe, Bruyette & Woods recently met with management from Ameris Bancorp ABCB. They left the meeting with a positive view on the bank’s growth opportunities. A recent deal to buy Jacksonville Bancorp, Inc JAXB closed in March, and more acquisitions may lie ahead.
The two key assumptions of the JAXB deal (cost savings and 10 percent growth) look to be going as expected, if not better. Additionally, organic loan growth is expected at 13 percent for the year, and KBW analysts came away from their meeting with management confident that guidance will be achieved and may even be too conservative.
Ameris management added that they hope to have another deal announced by year-end, with deals likely to be in the $500 million to $2 billion range. Ameris shares were 2 percent higher in late afternoon trading Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.