ABCB - Ameris Bancorp: Top Line Growth Unlikely To Be Strong Enough To Counter Headwinds
- Economic strength, robust pipelines, and lower Paycheck Protection Program forgiveness will likely drive loan growth this year.
- ABCB has a high cash balance. Further, a large part of total deposits is made up of non-rate-sensitive deposits. Hence, ABCB is well-positioned for an interest rate hike.
- Higher interest rates will disincentivize mortgage refinancing activity. Therefore, the non-interest income will likely plunge this year.
- The December 2022 target price suggests a modest upside from the current market price. Further, ABCB is offering a low dividend yield.
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Ameris Bancorp: Top Line Growth Unlikely To Be Strong Enough To Counter Headwinds