Recap: Ameris Bancorp Q3 Earnings

Shares of Ameris Bancorp ABCB rose 3% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 70.41% over the past year to $1.67, which beat the estimate of $0.89.

Revenue of $321,556,000 up by 42.43% from the same period last year, which beat the estimate of $269,860,000.

Looking Ahead

Ameris Bancorp hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

Company's 52-week high was at $44.90

Company's 52-week low was at $17.12

Price action over last quarter: Up 24.14%

Company Description

Ameris Bancorp is a financial holding company whose business is conducted primarily through its wholly owned banking subsidiary, Ameris Bank. The bank provides a full range of banking services to its retail and commercial customers in select markets. Those markets are in the southeastern United States. The bank operates scores of banking offices with relative autonomy. The bank's strategy emphasizes greater penetration of its current market through acquisition-oriented growth, knowledge of local markets, and efficient operations. The bank's loan portfolio is well-diversified, with commercial real estate loans reflecting the largest portion of the portfolio. Net interest income is the largest contributor to net income.