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Ameris Bancorp JAXB Deal Going According To Plan

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Ameris Bancorp JAXB Deal Going According To Plan

Keefe, Bruyette & Woods recently met with management from Ameris Bancorp (NASDAQ: ABCB). They left the meeting with a positive view on the bank’s growth opportunities. A recent deal to buy Jacksonville Bancorp, Inc (NASDAQ: 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.

Latest Ratings for ABCB

DateFirmActionFromTo
Dec 2020Raymond JamesMaintainsStrong Buy
Oct 2020Piper SandlerMaintainsOverweight
Oct 2020Raymond JamesMaintainsStrong Buy

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