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Ameris Bancorp: Q1 Earnings Snapshot
By AP News - Apr 25, 2024, 05:06 PM ET
Last Updated - May 27, 2024, 01:06 AM EDT
ATLANTA (AP) — ATLANTA (AP) — Ameris Bancorp (ABCB) on Thursday reported first-quarter net income of $74.3 million.
The bank, based in Atlanta, said it had earnings of $1.08 per share. Earnings, adjusted for non-recurring costs, came to $1.10 per share.
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The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The bank posted revenue of $395.3 million in the period. Its revenue net of interest expense was $268.2 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $259.7 million.
Ameris Bancorp shares have dropped 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.51, a climb of 48% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABCB at https://www.zacks.com/ap/ABCB
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