If you like banks with above-average prospects for growth over the next three to five years (and beyond), Ameris (NASDAQ:ABCB) could be right up your alley. If you're looking for a quality overlooked opportunity trading below fair value, I don't think you're going to find as much to like here.
Ameris has been an aggressive acquirer and has built an interesting franchise in southern Georgia and northern Florida, as well as focused lending operations targeting segments like agricultural lending, SBA, and mortgages. Add in the potential from ongoing expense leverage and above-average growth in the region in which it operates, and I think Ameris has above-average growth potential. Trading close to 3x tangible book, though, and already pricing in high teens earnings growth, it's hard to call this a value.
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Ameris Has A Lot Of Opportunities To Grow, But It's Not Cheap