Intrinsic value of Ameris Bancorp - ABCB

Previous Close

$51.85

  Intrinsic Value

$6.66

stock screener

  Rating & Target

str. sell

-87%

Previous close

$51.85

 
Intrinsic value

$6.66

 
Up/down potential

-87%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as ABCB.

We calculate the intrinsic value of ABCB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.90
  10.31
  9.78
  9.30
  8.87
  8.48
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
Revenue, $m
  395
  436
  478
  523
  569
  617
  667
  720
  774
  830
  889
  950
  1,013
  1,079
  1,147
  1,219
  1,293
  1,370
  1,451
  1,535
  1,623
  1,714
  1,810
  1,910
  2,015
  2,124
  2,238
  2,358
  2,483
  2,614
Variable operating expenses, $m
  181
  199
  219
  239
  261
  283
  306
  330
  354
  380
  407
  435
  464
  494
  526
  558
  592
  628
  665
  703
  743
  785
  829
  875
  923
  973
  1,025
  1,080
  1,137
  1,197
Fixed operating expenses, $m
  73
  74
  76
  77
  79
  81
  83
  85
  86
  88
  90
  92
  94
  96
  98
  101
  103
  105
  107
  110
  112
  115
  117
  120
  122
  125
  128
  131
  133
  136
Total operating expenses, $m
  254
  273
  295
  316
  340
  364
  389
  415
  440
  468
  497
  527
  558
  590
  624
  659
  695
  733
  772
  813
  855
  900
  946
  995
  1,045
  1,098
  1,153
  1,211
  1,270
  1,333
Operating income, $m
  141
  162
  183
  206
  229
  254
  279
  306
  333
  362
  392
  423
  455
  488
  523
  560
  598
  638
  679
  722
  767
  815
  864
  916
  970
  1,026
  1,085
  1,147
  1,212
  1,280
EBITDA, $m
  959
  1,063
  1,173
  1,288
  1,407
  1,531
  1,661
  1,795
  1,935
  2,080
  2,232
  2,389
  2,552
  2,722
  2,899
  3,083
  3,275
  3,474
  3,683
  3,900
  4,127
  4,364
  4,611
  4,870
  5,140
  5,423
  5,719
  6,028
  6,352
  6,692
Interest expense (income), $m
  19
  382
  379
  416
  454
  494
  536
  580
  625
  672
  721
  771
  824
  879
  936
  995
  1,057
  1,121
  1,188
  1,257
  1,330
  1,406
  1,485
  1,567
  1,653
  1,743
  1,837
  1,936
  2,038
  2,146
  2,259
Earnings before tax, $m
  -240
  -217
  -233
  -249
  -265
  -282
  -300
  -319
  -339
  -359
  -380
  -401
  -424
  -447
  -472
  -497
  -523
  -550
  -578
  -608
  -638
  -670
  -703
  -738
  -774
  -811
  -850
  -891
  -934
  -978
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -240
  -217
  -233
  -249
  -265
  -282
  -300
  -319
  -339
  -359
  -380
  -401
  -424
  -447
  -472
  -497
  -523
  -550
  -578
  -608
  -638
  -670
  -703
  -738
  -774
  -811
  -850
  -891
  -934
  -978

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,311
  8,065
  8,854
  9,677
  10,536
  11,429
  12,359
  13,326
  14,331
  15,375
  16,460
  17,588
  18,760
  19,979
  21,248
  22,569
  23,944
  25,377
  26,870
  28,428
  30,053
  31,750
  33,522
  35,373
  37,308
  39,332
  41,448
  43,663
  45,981
  48,407
Adjusted assets (=assets-cash), $m
  7,311
  8,065
  8,854
  9,677
  10,536
  11,429
  12,359
  13,326
  14,331
  15,375
  16,460
  17,588
  18,760
  19,979
  21,248
  22,569
  23,944
  25,377
  26,870
  28,428
  30,053
  31,750
  33,522
  35,373
  37,308
  39,332
  41,448
  43,663
  45,981
  48,407
Revenue / Adjusted assets
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
  0.054
Average production assets, $m
  8,173
  9,015
  9,897
  10,818
  11,777
  12,776
  13,816
  14,897
  16,020
  17,187
  18,400
  19,660
  20,971
  22,334
  23,752
  25,228
  26,766
  28,367
  30,037
  31,778
  33,595
  35,492
  37,472
  39,542
  41,705
  43,967
  46,333
  48,809
  51,400
  54,112
Working capital, $m
  -7,662
  -8,451
  -9,278
  -10,141
  -11,040
  -11,977
  -12,952
  -13,965
  -15,018
  -16,112
  -17,249
  -18,430
  -19,659
  -20,937
  -22,266
  -23,650
  -25,091
  -26,593
  -28,158
  -29,790
  -31,493
  -33,271
  -35,128
  -37,068
  -39,096
  -41,216
  -43,434
  -45,755
  -48,184
  -50,727
Total debt, $m
  7,025
  7,704
  8,414
  9,155
  9,927
  10,732
  11,569
  12,439
  13,343
  14,283
  15,259
  16,274
  17,329
  18,427
  19,569
  20,757
  21,995
  23,284
  24,628
  26,030
  27,493
  29,020
  30,615
  32,281
  34,023
  35,844
  37,749
  39,742
  41,828
  44,012
Total liabilities, $m
  6,580
  7,258
  7,968
  8,709
  9,482
  10,286
  11,123
  11,993
  12,898
  13,837
  14,814
  15,829
  16,884
  17,981
  19,123
  20,312
  21,549
  22,839
  24,183
  25,585
  27,048
  28,575
  30,169
  31,836
  33,577
  35,398
  37,303
  39,296
  41,383
  43,567
Total equity, $m
  731
  806
  885
  968
  1,054
  1,143
  1,236
  1,333
  1,433
  1,537
  1,646
  1,759
  1,876
  1,998
  2,125
  2,257
  2,394
  2,538
  2,687
  2,843
  3,005
  3,175
  3,352
  3,537
  3,731
  3,933
  4,145
  4,366
  4,598
  4,841
Total liabilities and equity, $m
  7,311
  8,064
  8,853
  9,677
  10,536
  11,429
  12,359
  13,326
  14,331
  15,374
  16,460
  17,588
  18,760
  19,979
  21,248
  22,569
  23,943
  25,377
  26,870
  28,428
  30,053
  31,750
  33,521
  35,373
  37,308
  39,331
  41,448
  43,662
  45,981
  48,408
Debt-to-equity ratio
  9.610
  9.550
  9.500
  9.460
  9.420
  9.390
  9.360
  9.330
  9.310
  9.290
  9.270
  9.250
  9.240
  9.220
  9.210
  9.200
  9.190
  9.180
  9.170
  9.160
  9.150
  9.140
  9.130
  9.130
  9.120
  9.110
  9.110
  9.100
  9.100
  9.090
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -240
  -217
  -233
  -249
  -265
  -282
  -300
  -319
  -339
  -359
  -380
  -401
  -424
  -447
  -472
  -497
  -523
  -550
  -578
  -608
  -638
  -670
  -703
  -738
  -774
  -811
  -850
  -891
  -934
  -978
Depreciation, amort., depletion, $m
  817
  902
  990
  1,082
  1,178
  1,278
  1,382
  1,490
  1,602
  1,719
  1,840
  1,966
  2,097
  2,233
  2,375
  2,523
  2,677
  2,837
  3,004
  3,178
  3,359
  3,549
  3,747
  3,954
  4,171
  4,397
  4,633
  4,881
  5,140
  5,411
Funds from operations, $m
  577
  684
  757
  833
  913
  995
  1,081
  1,170
  1,263
  1,360
  1,460
  1,565
  1,673
  1,786
  1,904
  2,026
  2,154
  2,287
  2,425
  2,570
  2,721
  2,879
  3,044
  3,217
  3,397
  3,586
  3,783
  3,990
  4,206
  4,433
Change in working capital, $m
  -753
  -790
  -826
  -863
  -900
  -937
  -974
  -1,013
  -1,053
  -1,094
  -1,137
  -1,182
  -1,229
  -1,278
  -1,329
  -1,384
  -1,441
  -1,501
  -1,565
  -1,632
  -1,703
  -1,778
  -1,857
  -1,940
  -2,028
  -2,120
  -2,218
  -2,321
  -2,429
  -2,543
Cash from operations, $m
  1,330
  1,474
  1,584
  1,696
  1,812
  1,932
  2,056
  2,184
  2,316
  2,454
  2,597
  2,746
  2,902
  3,064
  3,233
  3,410
  3,595
  3,788
  3,991
  4,202
  4,425
  4,657
  4,901
  5,157
  5,425
  5,706
  6,001
  6,311
  6,635
  6,976
Maintenance CAPEX, $m
  -737
  -817
  -902
  -990
  -1,082
  -1,178
  -1,278
  -1,382
  -1,490
  -1,602
  -1,719
  -1,840
  -1,966
  -2,097
  -2,233
  -2,375
  -2,523
  -2,677
  -2,837
  -3,004
  -3,178
  -3,359
  -3,549
  -3,747
  -3,954
  -4,171
  -4,397
  -4,633
  -4,881
  -5,140
New CAPEX, $m
  -799
  -843
  -882
  -921
  -960
  -999
  -1,039
  -1,081
  -1,123
  -1,167
  -1,213
  -1,261
  -1,311
  -1,363
  -1,418
  -1,476
  -1,537
  -1,602
  -1,670
  -1,741
  -1,817
  -1,897
  -1,981
  -2,070
  -2,163
  -2,262
  -2,366
  -2,476
  -2,591
  -2,713
Cash from investing activities, $m
  -1,536
  -1,660
  -1,784
  -1,911
  -2,042
  -2,177
  -2,317
  -2,463
  -2,613
  -2,769
  -2,932
  -3,101
  -3,277
  -3,460
  -3,651
  -3,851
  -4,060
  -4,279
  -4,507
  -4,745
  -4,995
  -5,256
  -5,530
  -5,817
  -6,117
  -6,433
  -6,763
  -7,109
  -7,472
  -7,853
Free cash flow, $m
  -206
  -186
  -200
  -214
  -229
  -245
  -262
  -279
  -297
  -315
  -334
  -354
  -375
  -396
  -418
  -441
  -465
  -490
  -516
  -542
  -570
  -599
  -629
  -660
  -693
  -726
  -762
  -798
  -837
  -877
Issuance/(repayment) of debt, $m
  -47
  678
  710
  741
  773
  804
  837
  870
  904
  940
  977
  1,015
  1,055
  1,097
  1,142
  1,188
  1,238
  1,290
  1,344
  1,402
  1,463
  1,527
  1,595
  1,666
  1,742
  1,821
  1,905
  1,993
  2,086
  2,184
Issuance/(repurchase) of shares, $m
  973
  293
  312
  331
  351
  372
  393
  416
  439
  463
  488
  514
  541
  569
  598
  629
  660
  693
  728
  763
  801
  840
  880
  923
  967
  1,013
  1,062
  1,113
  1,166
  1,221
Cash from financing (excl. dividends), $m  
  926
  971
  1,022
  1,072
  1,124
  1,176
  1,230
  1,286
  1,343
  1,403
  1,465
  1,529
  1,596
  1,666
  1,740
  1,817
  1,898
  1,983
  2,072
  2,165
  2,264
  2,367
  2,475
  2,589
  2,709
  2,834
  2,967
  3,106
  3,252
  3,405
Total cash flow (excl. dividends), $m
  720
  785
  822
  858
  894
  931
  969
  1,007
  1,047
  1,088
  1,130
  1,175
  1,222
  1,270
  1,322
  1,376
  1,433
  1,493
  1,556
  1,623
  1,693
  1,768
  1,846
  1,929
  2,016
  2,108
  2,205
  2,307
  2,415
  2,528
Retained Cash Flow (-), $m
  -973
  -293
  -312
  -331
  -351
  -372
  -393
  -416
  -439
  -463
  -488
  -514
  -541
  -569
  -598
  -629
  -660
  -693
  -728
  -763
  -801
  -840
  -880
  -923
  -967
  -1,013
  -1,062
  -1,113
  -1,166
  -1,221
Prev. year cash balance distribution, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  3
  4
  4
  4
  5
  5
  6
  6
  6
  7
  7
  8
  9
  9
  10
  10
  11
  12
  12
  13
  14
  15
  15
  16
  17
  18
  19
  20
  21
  22
Cash available for distribution, $m
  -252
  492
  510
  527
  543
  559
  575
  591
  608
  625
  642
  661
  680
  701
  723
  747
  772
  799
  828
  859
  893
  928
  966
  1,006
  1,049
  1,095
  1,143
  1,195
  1,249
  1,307
Discount rate, %
  14.30
  15.02
  15.77
  16.55
  17.38
  18.25
  19.16
  20.12
  21.13
  22.18
  23.29
  24.46
  25.68
  26.96
  28.31
  29.73
  31.22
  32.78
  34.41
  36.14
  37.94
  39.84
  41.83
  43.92
  46.12
  48.42
  50.85
  53.39
  56.06
  58.86
PV of cash for distribution, $m
  -221
  372
  329
  286
  244
  205
  169
  136
  108
  84
  64
  48
  35
  25
  17
  12
  8
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  35.7
  25.8
  18.7
  13.8
  10.2
  7.6
  5.7
  4.3
  3.2
  2.4
  1.9
  1.4
  1.1
  0.8
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0

Ameris Bancorp is a financial holding company. The Company's business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division. The Banking Division is engaged in the delivery of financial services, which include commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division is engaged in the origination, sales and servicing of one- to four-family residential mortgage loans. The Warehouse Lending Division is engaged in the origination and servicing of warehouse lines to other businesses that are secured by underlying one- to four-family residential mortgage loans. The SBA Division is engaged in the origination, sales and servicing of small business administration (SBA) loans.

FINANCIAL RATIOS  of  Ameris Bancorp (ABCB)

Valuation Ratios
P/E Ratio 25.1
Price to Sales 0
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow -25.9
Price to Free Cash Flow -22.4
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.4%
Cap. Spend. - 3 Yr. Gr. Rate 12.9%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 97.5%
Total Debt to Equity 97.5%
Interest Coverage 7
Management Effectiveness
Return On Assets 1.4%
Ret/ On Assets - 3 Yr. Avg. 1.2%
Return On Total Capital 7.3%
Ret/ On T. Cap. - 3 Yr. Avg. 6.7%
Return On Equity 12.4%
Return On Equity - 3 Yr. Avg. 11%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 31.4%
Eff/ Tax Rate - 3 Yr. Avg. 30%
Payout Ratio 12.5%

ABCB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ABCB stock intrinsic value calculation we used $356 million for the last fiscal year's total revenue generated by Ameris Bancorp. The default revenue input number comes from 2017 income statement of Ameris Bancorp. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ABCB stock valuation model: a) initial revenue growth rate of 10.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14.3%, whose default value for ABCB is calculated based on our internal credit rating of Ameris Bancorp, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ameris Bancorp.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ABCB stock the variable cost ratio is equal to 45.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $71 million in the base year in the intrinsic value calculation for ABCB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Ameris Bancorp.

Corporate tax rate of 27% is the nominal tax rate for Ameris Bancorp. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ABCB stock is equal to 0.9%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ABCB are equal to 2070.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Ameris Bancorp operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ABCB is equal to -1940.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Ameris Bancorp - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 37 million for Ameris Bancorp is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ameris Bancorp at the current share price and the inputted number of shares is $1.9 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Ameris Bancorp completes $406M acquisition of Hamilton State Bank   [Jul-03-18 02:43PM  American City Business Journals]
▶ Top Growth Stocks in June   [Jun-20-18 12:02PM  Simply Wall St.]
▶ Ameris Bancorp Announces CEO Succession   [Jun-06-18 05:05PM  PR Newswire]
▶ The 3 Stocks on the MFM Team's Radar   [May-17-18 06:12PM  Motley Fool]
▶ Best Growth Stocks To Buy Now   [May-15-18 12:02PM  Simply Wall St.]
▶ Ameris: Mentoring key to retention, engagement, development   [May-02-18 01:51PM  American City Business Journals]
▶ Ameris Bancorp to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ Ameris Bancorp: 1Q Earnings Snapshot   [07:14AM  Associated Press]
▶ Top NasdaqGS High Growth Stock   [Mar-08-18 11:02AM  Simply Wall St.]
▶ February Growth Stock Picks   [Feb-05-18 11:02AM  Simply Wall St.]
▶ Stocks Showing Improved Relative Strength: Ameris Bancorp   [Jan-16-18 03:00AM  Investor's Business Daily]
▶ Year in Review: The end of Jacksonville's local banks   [08:50AM  American City Business Journals]
▶ Ameris Bancorp Announces Executive Team Promotions   [Dec-06-17 05:10PM  PR Newswire]
▶ Ameris Bancorp Trying To Close In On Key Technical Measure   [03:00AM  Investor's Business Daily]
▶ Atlantic Coast Bank acquired for $145 million   [Nov-17-17 02:35PM  American City Business Journals]
▶ ETFs with exposure to Ameris Bancorp : October 25, 2017   [Oct-25-17 09:44AM  Capital Cube]
▶ ETFs with exposure to Ameris Bancorp : September 22, 2017   [Sep-22-17 11:02AM  Capital Cube]
▶ ETFs with exposure to Ameris Bancorp : August 1, 2017   [Aug-01-17 04:05PM  Capital Cube]
▶ Ameris Bancorp posts 2Q profit   [Jul-21-17 08:54PM  Associated Press]
▶ ETFs with exposure to Ameris Bancorp : July 11, 2017   [Jul-11-17 01:55PM  Capital Cube]
▶ ETFs with exposure to Ameris Bancorp : June 13, 2017   [Jun-13-17 12:11PM  Capital Cube]
▶ Banks And Financial Stocks: Latest News And Analysis   [Apr-25-17 11:50AM  Investor's Business Daily]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [11:07AM  Investor's Business Daily]
▶ Ameris Bancorp Earns Composite Rating Upgrade   [10:57AM  Investor's Business Daily]
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