Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Ameris Bancorp (ABCB)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$124.08 - $297.90$183.80
Multi-Stage$86.34 - $94.37$90.28
Blended Fair Value$137.04
Current Price$73.31
Upside86.94%
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 Rate9.43%9.43%9.43%
Growth Rate5.50%6.50%7.50%
Fair Value$124.08$183.80$297.90
Upside / Downside69.26%150.72%306.36%

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 Rate9.43%9.43%9.43%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)109.13110.16111.20
Year 2 PV (M)162.18165.27168.39
Year 3 PV (M)211.29217.35223.53
Year 4 PV (M)256.66266.53276.68
Year 5 PV (M)298.50312.92327.89
PV of Terminal Value (M)4,916.615,154.085,400.64
Equity Value (M)5,954.386,226.336,508.34
Shares Outstanding (M)68.9668.9668.96
Fair Value$86.34$90.28$94.37
Upside / Downside17.77%23.15%28.73%

High-Yield Dividend Screener

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