Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Ameris Bancorp (ABCB)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$124.22 - $298.60$184.09
Multi-Stage$86.41 - $94.45$90.35
Blended Fair Value$137.22
Current Price$73.31
Upside87.18%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS10.94%26.29%0.600.600.600.610.600.360.240.210.120.09
YoY Growth---0.45%0.09%-0.45%0.27%68.94%50.41%11.98%70.67%33.31%60.33%
Dividend Yield--1.04%1.27%1.65%1.38%1.15%1.51%0.67%0.40%0.27%0.32%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)398.17
(-) Cash Dividends Paid (M)51.90
(=) Cash Retained (M)346.27
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)79.6349.7729.86
Cash Retained (M)346.27346.27346.27
(-) Cash Required (M)-79.63-49.77-29.86
(=) Excess Retained (M)266.64296.50316.41
(/) Shares Outstanding (M)68.9668.9668.96
(=) Excess Retained per Share3.874.304.59
LTM Dividend per Share0.750.750.75
(+) Excess Retained per Share3.874.304.59
(=) Adjusted Dividend4.625.055.34
WACC / Discount Rate9.42%9.42%9.42%
Growth Rate5.50%6.50%7.50%
Fair Value$124.22$184.09$298.60
Upside / Downside69.45%151.11%307.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)398.17424.06451.62480.97512.24545.53561.90
Payout Ratio13.03%28.43%43.82%59.21%74.61%90.00%92.50%
Projected Dividends (M)51.90120.55197.90284.80382.16490.98519.76

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.42%9.42%9.42%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)109.13110.17111.20
Year 2 PV (M)162.20165.29168.40
Year 3 PV (M)211.32217.38223.56
Year 4 PV (M)256.70266.58276.73
Year 5 PV (M)298.57312.99327.96
PV of Terminal Value (M)4,921.045,158.735,405.52
Equity Value (M)5,958.966,231.136,513.38
Shares Outstanding (M)68.9668.9668.96
Fair Value$86.41$90.35$94.45
Upside / Downside17.87%23.25%28.83%

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