Ameris Bancorp

AI-generated fair value estimate for this company.

Method: Excess-return (residual income) model on tangible book value: TBVPS of $45.10 (Q2 2026); adjusted ROTCE of 14.08% (Q2 2026 annualized, excluding a one-time litigation accrual); cost of equity of 10% (CAPM: ~4% risk-free plus 1.1 beta x 5.5% ERP); terminal/long-run growth of 3%. Value = TBVPS x (ROTCE - g)/(COE - g) = 45.10 x (0.1408-0.03)/(0.10-0.03) = $71.39.

Reasoning: Ameris Bancorp is a regional bank where value is best captured via a P/TBV-consistent excess-return model rather than a generic FCF DCF, since bank free cash flow is not economically meaningful; tangible book value and the spread between sustainable ROTCE and cost of equity directly drive the justified multiple over tangible book.