Ameris Bancorp and Customers Bancorp Report Q3 Results This Thursday

what happened

Regional lenders Ameris Bancorp (ABCB) and Customers Bancorp (CUBI) are set to report third-quarter results on Thursday, with Ameris releasing after the market close and Customers in the afternoon, according to stockstory.org. In the previous quarter, Ameris posted revenue of $318.7 million, up 5.8% from a year earlier, but came in below analyst expectations on earnings per share and tangible book value per share. Customers Bancorp reported revenue of $227.3 million, a 9.9% annual gain, missing estimates for net interest income while narrowly beating on EPS.

For the current quarter, the market expects Ameris revenue to rise about 4% year on year and Customers about 2.1%. Both rates would be slower than the growth each company logged a year earlier, when Ameris rose 12% and Customers jumped 38.3%. Analyst estimates for both names have been largely unchanged over the past 30 days.

Peers that have already reported offer early signals. QCR Holdings saw revenue fall 11.7% year on year and land 8.9% below expectations, while Washington Trust Bancorp posted a 15% rise, beat estimates by 4.1%, and saw its shares gain 4.2% after the release. Over the last month, regional bank stocks have averaged a 3% decline, with Ameris down 2.8% and Customers down 3.6%.

why it matters

For regional banks, interest rates, loan quality and the strength of the economy remain the main drivers of earnings. Revenue and net interest income in these reports will show how well the sector is handling the current macro backdrop.

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