Local authorities reopen the case against lenders who reportedly refuse to work with cryptocurrency firms
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Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that it intends to release its fourth quarter and full year 2019 financial results in a press release after the market closes on Thursday, January 23, 2020. H. Palmer Proctor, Jr., Chief Executive Officer, and Nicole S. Stokes, Executive Vice President and Chief Financial Officer, will host a teleconference at 9:30 a.m. Eastern time on Friday, January 24, 2020 to discuss the Company's results and answer appropriate questions.
Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that in response to continued public health precautions regarding in-person gatherings given the COVID-19 pandemic, the Ameris Bancorp 2020 Annual Meeting of Shareholders to be held on Thursday, June 11, 2020, at 9:30 a.m. Eastern Time, will take place as a virtual meeting only, via live audio webcast. Shareholders will not be able to attend the Annual Meeting in person.
ATLANTA, May 26, 2020 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that in response to continued public health precautions regarding in-person gatherings given the COVID-19 pandemic, the Ameris Bancorp 2020 Annual Meeting of S…
Muslim countries are going through peculiar times. There is also a spiritual lockdown as they started the holy month of Ramadan three weeks ago. The post What are MENA Fashion Designers doing during Lockdown? appeared first on Fucking Young!.
Since we were off for Memorial Day on Monday, we're doing a special edition of Industry Focus: Financials today. Host Jason Moser and Fool.com contributor Matt Frankel start by discussing the stock price action we've been seeing in the banking industry, and w…
Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that in response to continued public health precautions regarding in-person gatherings given the COVID-19 pandemic, the Ameris Bancorp 2020 Annual Meeting of Shareholders to be held on Thursday, Ju…
Ameris Bancorp (ABCB) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Bank stocks underperformed the broader market in 2019. A changing landscape with increasing competition from fintech disruptors, low interest rates, and one-off credit events all played their part in stifling the industry’s growth. While the BANK index generated returns of more than 20%, the number still fell short of the S&P 500’s 29% increase.2020 brings with it new uncertainties, too; A U.S. presidential election, EPS volatility expected from CECL (current expected credit loss), the unavoidable change in the credit cycle, all attaching risk to financial stocks.While the sector is trading at one of the lowest multiples over the last two decades compared to the S&P 500, there are particular banking stocks that present a compelling opportunity.Investment firm Stephen sees several important stock plays in the banking industry for investors to consider in coming months. Using TipRanks’ Stock Comparison, we were able to read the fine print on 3 top picks the firm thinks investors should take note of in 2020. Additionally, we’ve confirmed that Stephen is in the majority on Wall Street in recommending these equities.Sterling Bancorp (STL)We’ll start off with a trip down to Montebello, New York, the home of regional bank holding company, Sterling Bancorp. STL focuses on providing financial services to small and midsize business owners, families, and consumers, primarily in the greater New York metropolitan area. Sterling stock beat the financial sector’s returns in 2019 and matched the S&P 500’s yearly 29% gain.Stephen’s Matthew Breese believes Sterling’s “profitability metrics as measured by ROA and ROTCE remain in the top quartile of peers.” The 4-star analyst argued these have helped drive “first/second quartile EPS and TBV growth over the last year and five years, respectively.”Furthermore, the analyst points out that Sterling’s balance sheet and EPS growth could be bolstered by portfolio purchases as well as further M&A activity. Historically, STL has been opportunistic in this regard and could pursue a similar strategy through 2021.Breese added “With accretable yield expected to fall to ~15bp of the NIM by early 2020, we anticipate net interest income will fall by ~2% in 2020 before inflecting and growing in 2021 by ~2%. Helping drive the inflection point is organic loan growth, anticipated at ~6%-8% through 2021… We think shares of STL are undervalued trading at~9x 2021 EPS vs. its historical 10-year P/E of 13.7x. In addition, when we compare STL to less profitable peers, the stock looks attractive, trading at a 3x-4x discount to peers on a P/E basis despite a ROA that’s superior by ~30bp.”Accordingly, the 4-star analyst reiterated an Overweight rating on STL. The accompanying price target of $25 suggests upside potential of 23%. (To watch Breese’s track record, click here)In general, the rest of the Street is on the same page. 5 "buy" ratings compared to 1 "hold" assigned in the last three months give it a Strong Buy analyst consensus. At the $25.75 average price target, shares could surge 24% over the next twelve months. (See Sterling Bancorp stock analysis on TipRanks)Spirit Of Texas Bancshares (STXB)Moving to the south, we head over to the Lone Star State, the home of Spirit Of Texas Bancshares. STXB is a fellow holding company with 36 locations across the state.The bank has been busy on the shopping front and in November, completed the acquisition of Chandler Bancorp, a deal which cost Spirit $17,900,000 million. The purchase marks Spirit’s tenth acquisition in Texas and third since going public in 2018. Full integration is expected by mid-2020, and Stephens’ Matt Olney believes that following the merger STXB “can improve its efficiency ratio to below 60% (currently at 62%).”An additional positive indicator for Olney is STXB’s loan portfolio, the majority of which is a combination of fixed rate or variable rate currently at a floor rate. Olney expects “earning asset yields to remain relatively stable which should help protect the Bank's strong NIM (net interest margin) of 4.63%.”Following a 3Q19 secondary equity capital raise, STXB’s “capital position remains strong.” Olney further added, “We believe STXB remains well capitalized for M&A opportunities and we expect the company to remain acquisitive and is targeting banks in the $300 million-$1billion in asset range. We estimate there are 100+ banks in their footprint within this specific range. Assuming the next deal is well structured, we anticipate the EPS accretion could be between mid to high-single-upper digits to low double digits.”As a result, the analyst left his Overweight rating and $28 price target as is. Should the target be met, investors’ boots will be stuffed with a 22% gain over the next 12 months. (To watch Olney’s track record, click here)Where do other analysts stand on the Spirit of Texas’ prospects for 2020? While the rest of the Street remains fairly quiet, the two fellow analysts chiming in with a view both put Spirit in the Buy category. The bank’s Strong Buy consensus rating comes with an average price target of $26.17 and indicates upside potential of 14%. (See STXB stock analysis on TipRanks)Ameris Bancorp (ABCB)For our final stock, we head up to Georgia, the base of regional bank, Ameris Bancorp. With $17.8 billion in total assets, the financial holding company has a foothold in the Southeastern states, with retail and commercial customers in Georgia, Alabama, Florida, South Carolina, and Tennessee.In July ’19, Ameris completed the acquisition of Fidelity Southern Corporation in a deal valued at $750.7 million. The deal adds Fidelity’s 62 bank branches to Ameris’ roster, 46 of which are located in Georgia and 16 in Florida. Stephen analyst Tyler Stafford believes the merger “added a high-quality deposit base (0.65% cost) and provides substantial liquidity.”Ameris had a highly profitable ROA (return on assets) of 1.54% in 2019. Stafford thinks this will “accelerate to 1.58% in 2021 given the added benefits of the LION acquisition.” The 4-star analyst also notes that “ABCB should see tailwinds in its mortgage division in the current interest rate environment.” Stafford models for mortgage fees/total revenue of 18%/16% in 2020 and 2021.“While ABCB has grown from about $5 billion to $17 billion in assets over the past 4 years (organically and through M&A), we believe the company is on the M&A sidelines over the next ~4-6 quarters as it focuses on capitalizing on the LION acquisition/Atlanta market disruption,” Stafford added.Based on the above, Stafford reiterated an Overweight rating on Ameris alongside a price target of $51, which implies potential upside of 19% from current levels. (To watch Stafford’s track record, click here)Overall, the Georgia bank has three other analysts currently following its progress, and all rate ABCB a Buy. Thus, Ameris qualifies as a Strong Buy. The average price target comes in at $50 and indicates upside potential of 17%. (See Ameris price targets and analyst ratings on TipRanks)
Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that it intends to release its first quarter 2020 financial results in a press release after the market closes on Thursday, April 23, 2020. H. Palmer Proctor, Jr., Chief Executive Officer, Nicole S. Stokes, Executive Vice President and Chief Financial Officer, and Jon S. Edwards, Executive Vice President and Chief Credit Officer, will host a teleconference at 9:00 a.m. Eastern time on Friday, April 24, 2020 to discuss the Company's results and answer appropriate questions.
ATLANTA, May 26, 2020 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that in response to continued public health precautions regarding in-person gatherings given the COVID-19 pandemic, the Ameris Bancorp 2020 Annual Meeting of S…
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Q4 2019 Ameris Bancorp Earnings Call
Ameris Bancorp (ABCB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Ameris Bancorp (ABCB) delivered earnings and revenue surprises of 0.00% and -1.58%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today
Ameris Bancorp (ABCB) delivered earnings and revenue surprises of -25.33% and -1.52%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Given a string S, the task is to find the permutation of the string such that palindromic substrings in the string are maximum. Note: There… Read More » The post Permutation of given string that maximizes count of Palindromic substrings appeared first on Geek…
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
Higher net revenues and rise in deposits support BancorpSouth's (BXS) Q1 earnings. However, a rise in expenses ails results.
In this week's installment of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP take a deep dive into the latest earnings from Live Oak Bancshares (NYSE: LOB) and Ameris Bancorp (NASDAQ: ABCB), and then take a closer look…
Q1 2020 Ameris Bancorp Earnings Call
NEW YORK, NY / ACCESSWIRE / April 24, 2020 / Ameris Bancorp (NASDAQ:ABCB) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 24, 2020 at 9:00 AM Eastern ...
In this week's installment of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take a deep dive into the latest earnings results from Live Oak Bancshares (NASDAQ: LOB) and Ameris Bancorp (NASDAQ: ABCB). The duo also discuss Travelers Insurance (NYSE: TRV) and how the COVID-19 pandemic could impact the insurance industry. Finally, Moser and Frankel discuss why Markel (NYSE: MKL) and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) are on their radar this week.
Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?
Brazil’s national competition regulator is about to decide the fate of its investigation of whether some of the largest banks in the country illegally refused to bank local crypto brokers.
While lower rates and rise in provisions are expected to have hurt banks' earnings in the first quarter, improved trading and mortgage banking performances, and decent lending activities are likely to have offered support.
Ameris Bancorp (ABCB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.