Ameris Bancorp (ABCB) Stock Forecast, Price Target & Predictions
ABCB Stock Forecast
Ameris Bancorp stock forecast is as follows: an average price target of $60.50 (represents a -1.19% downside from ABCB’s last price of $61.23) and a rating consensus of 'Buy', based on 6 wall street analysts offering a 1-year stock forecast.
ABCB Price Target
The average price target for Ameris Bancorp (ABCB) is $60.50 based on 1-year price targets from 6 Wall Street analysts in the past 3 months, with a price target range of $67.00 to $54.00. This represents a potential -1.19% downside from ABCB's last price of $61.23.
ABCB Analyst Ratings
According to 6 Wall Street analysts, Ameris Bancorp's rating consensus is 'Buy'. The analyst rating breakdown for ABCB stock is 0 'Strong Buy' (0.00%), 4 'Buy' (66.67%), 2 'Hold' (33.33%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Ameris Bancorp Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Oct 28, 2024 | Michael Rose | Raymond James | $67.00 | $63.45 | 5.59% | 9.42% |
| Jul 29, 2024 | Tyler Stafford | Stephens | $64.00 | $61.06 | 4.81% | 4.52% |
| Apr 29, 2024 | Casey Orr Whitman | Piper Sandler | $57.00 | $48.49 | 17.55% | -6.91% |
| Apr 01, 2024 | Brandon King | Truist Financial | $54.00 | $48.38 | 11.62% | -11.81% |
| Apr 28, 2022 | - | Raymond James | $50.00 | $42.11 | 18.74% | -18.34% |
The latest Ameris Bancorp stock forecast, released on Oct 28, 2024 by Michael Rose from Raymond James, set a price target of $67.00, which represents a 5.59% increase from the stock price at the time of the forecast ($63.45), and a 9.42% increase from ABCB last price ($61.23).
Ameris Bancorp Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 1 | 1 | 4 |
| Avg Price Target | $67.00 | $67.00 | $60.50 |
| Last Closing Price | $61.23 | $61.23 | $61.23 |
| Upside/Downside | 9.42% | 9.42% | -1.19% |
In the current month, the average price target of Ameris Bancorp stock is $67.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 9.42% increase as opposed to Ameris Bancorp's last price of $61.23. This month's average price target is down 0.00% compared to last quarter, and up 10.74% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Jul 29, 2024 | Keefe, Bruyette & Woods | Outperform | Outperform | Hold |
| Jul 29, 2024 | Stephens | Equal-Weight | Equal-Weight | Hold |
| Apr 29, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| Oct 10, 2023 | Citigroup | - | Neutral | Downgrade |
| Oct 10, 2023 | William Blair | - | Outperform | Initialise |
| Apr 28, 2022 | Raymond James | Outperform | Outperform | Hold |
Ameris Bancorp's last stock rating was published by Keefe, Bruyette & Woods on Jul 29, 2024. The company gave ABCB a "Outperform" rating, the same as its previous rate.
Ameris Bancorp Financial Forecast
Ameris Bancorp Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $272.29M | $276.04M | $267.27M | $272.11M | $278.18M | $9.92M | $8.92M | $246.61M | $237.85M | $250.47M | $282.40M | $274.44M | $320.75M | $283.82M | $200.13M | $209.37M | $224.67M | $135.91M | $129.25M | $94.72M | $85.36M |
| Avg Forecast | $300.71M | $298.63M | $289.36M | $274.74M | $278.64M | $278.13M | $272.81M | $258.05M | $264.66M | $273.49M | $263.50M | $265.14M | $281.13M | $276.22M | $262.88M | $240.02M | $241.59M | $245.10M | $263.83M | $260.93M | $274.68M | $270.66M | $222.66M | $209.29M | $211.06M | $213.40M | $139.72M | $130.90M | $94.72M | $83.92M |
| High Forecast | $306.08M | $303.95M | $294.52M | $275.94M | $282.53M | $282.71M | $272.81M | $258.05M | $265.82M | $277.10M | $268.20M | $269.87M | $286.14M | $276.22M | $262.88M | $240.02M | $241.59M | $245.10M | $263.83M | $260.93M | $274.68M | $270.66M | $222.66M | $209.29M | $211.06M | $213.40M | $139.72M | $130.90M | $113.66M | $100.70M |
| Low Forecast | $294.48M | $292.44M | $283.36M | $273.30M | $276.06M | $273.54M | $272.81M | $258.05M | $262.85M | $271.45M | $258.04M | $259.64M | $275.30M | $276.22M | $262.88M | $240.02M | $241.59M | $245.10M | $263.83M | $260.93M | $274.68M | $270.66M | $222.66M | $209.29M | $211.06M | $213.40M | $139.72M | $130.90M | $75.77M | $67.13M |
| # Analysts | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 1 | 3 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 8 | 7 | 6 | 5 | 5 | 5 | 5 | 13 | 17 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.00% | 1.05% | 1.01% | 0.97% | 1.01% | 0.04% | 0.04% | 1.02% | 0.97% | 0.95% | 1.08% | 1.00% | 1.19% | 1.27% | 0.96% | 0.99% | 1.05% | 0.97% | 0.99% | 1.00% | 1.02% |
Ameris Bancorp's average Quarter revenue forecast for Dec 23 based on 3 analysts is $264.66M, with a low forecast of $262.85M, and a high forecast of $265.82M. ABCB's average Quarter revenue forecast represents a -2.80% decrease compared to the company's last Quarter revenue of $272.29M (Sep 23).
Ameris Bancorp EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 1 | 3 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 8 | 7 | 6 | 5 | 5 | 5 | 5 | 13 | 17 |
| EBITDA | - | - | - | - | - | - | - | - | - | $109.45M | $87.66M | $167.32M | $158.75M | $147.11M | $141.92M | $132.87M | $122.39M | $136.63M | $138.19M | $186.90M | $156.76M | $181.50M | $74.86M | $70.99M | $133.84M | $80.29M | $85.62M | $84.17M | $48.28M | $41.20M |
| Avg Forecast | $102.10M | $101.39M | $98.24M | $93.28M | $94.60M | $94.43M | $92.62M | $145.75M | $89.86M | $92.85M | $89.46M | $132.50M | $133.48M | $93.78M | $89.25M | $120.45M | $82.02M | $83.21M | $89.57M | $91.18M | $93.26M | $91.89M | $75.60M | $104.25M | $71.66M | $72.45M | $47.44M | $86.88M | $48.28M | $40.49M |
| High Forecast | $103.92M | $103.20M | $99.99M | $93.69M | $95.92M | $95.99M | $92.62M | $174.90M | $90.25M | $94.08M | $91.06M | $159.00M | $160.18M | $93.78M | $89.25M | $144.54M | $82.02M | $83.21M | $89.57M | $109.41M | $93.26M | $91.89M | $75.60M | $125.10M | $71.66M | $72.45M | $47.44M | $104.26M | $57.94M | $48.59M |
| Low Forecast | $99.98M | $99.29M | $96.20M | $92.79M | $93.72M | $92.87M | $92.62M | $116.60M | $89.24M | $92.16M | $87.61M | $106.00M | $106.79M | $93.78M | $89.25M | $96.36M | $82.02M | $83.21M | $89.57M | $72.94M | $93.26M | $91.89M | $75.60M | $83.40M | $71.66M | $72.45M | $47.44M | $69.51M | $38.63M | $32.39M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.18% | 0.98% | 1.26% | 1.19% | 1.57% | 1.59% | 1.10% | 1.49% | 1.64% | 1.54% | 2.05% | 1.68% | 1.98% | 0.99% | 0.68% | 1.87% | 1.11% | 1.80% | 0.97% | 1.00% | 1.02% |
3 analysts predict ABCB's average Quarter EBITDA for Dec 23 to be $89.86M, with a high of $90.25M and a low of $89.24M. This is -17.90% lower than Ameris Bancorp's previous annual EBITDA (Sep 23) of $109.45M.
Ameris Bancorp Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 1 | 3 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 8 | 7 | 6 | 5 | 5 | 5 | 5 | 13 | 17 |
| Net Income | - | - | - | - | - | - | - | - | - | $80.11M | $62.63M | $60.42M | $82.22M | $92.56M | $90.07M | $81.70M | $81.94M | $81.68M | $88.33M | $124.96M | $94.28M | $116.14M | $32.24M | $19.32M | $61.25M | $21.38M | $38.90M | $39.91M | $26.66M | $21.15M |
| Avg Forecast | $90.68M | $87.23M | $81.44M | $76.19M | $80.98M | $79.48M | $78.56M | $89.62M | $76.21M | $77.69M | $78.68M | $81.47M | $89.37M | $91.88M | $81.99M | $74.06M | $80.65M | $81.24M | $82.76M | $60.96M | $79.89M | $61.72M | $41.61M | $28.37M | $66.02M | $65.37M | $66.08M | $41.19M | $26.66M | $20.79M |
| High Forecast | $92.79M | $89.26M | $83.32M | $79.48M | $85.03M | $81.91M | $78.57M | $107.54M | $78.25M | $82.55M | $80.48M | $97.76M | $107.24M | $93.94M | $83.14M | $88.88M | $80.65M | $83.59M | $82.76M | $73.15M | $79.89M | $61.72M | $41.61M | $34.05M | $66.02M | $65.37M | $66.08M | $49.43M | $31.99M | $24.95M |
| Low Forecast | $88.24M | $84.88M | $79.24M | $73.56M | $74.23M | $77.05M | $78.55M | $71.69M | $72.81M | $72.14M | $76.87M | $65.18M | $71.49M | $89.82M | $80.84M | $59.25M | $80.65M | $78.89M | $82.76M | $48.77M | $79.89M | $61.72M | $41.61M | $22.70M | $66.02M | $65.37M | $66.08M | $32.95M | $21.33M | $16.63M |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.03% | 0.80% | 0.74% | 0.92% | 1.01% | 1.10% | 1.10% | 1.02% | 1.01% | 1.07% | 2.05% | 1.18% | 1.88% | 0.77% | 0.68% | 0.93% | 0.33% | 0.59% | 0.97% | 1.00% | 1.02% |
Ameris Bancorp's average Quarter net income forecast for Dec 23 is $76.21M, with a range of $72.81M to $78.25M. ABCB's average Quarter net income forecast represents a -4.87% decrease compared to the company's last Quarter net income of $80.11M (Sep 23).
Ameris Bancorp SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 1 | 3 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 8 | 7 | 6 | 5 | 5 | 5 | 5 | 13 | 17 |
| SG&A | - | - | - | - | - | - | - | - | - | $84.62M | $83.96M | $84.44M | $79.01M | $82.25M | $84.67M | $86.27M | $90.53M | $93.03M | $99.33M | $109.30M | $121.13M | $109.89M | $107.14M | $90.26M | $85.20M | $89.95M | $48.82M | $48.50M | $40.45M | $35.47M |
| Avg Forecast | $94.27M | $93.62M | $90.71M | $86.13M | $87.35M | $87.19M | $85.52M | $108.42M | $82.97M | $85.74M | $82.61M | $98.56M | $98.73M | $86.59M | $82.41M | $89.60M | $75.74M | $76.84M | $82.71M | $53.32M | $86.11M | $84.85M | $69.80M | $132.54M | $66.17M | $66.90M | $43.80M | $50.07M | $40.45M | $34.86M |
| High Forecast | $95.95M | $95.29M | $92.33M | $86.50M | $88.57M | $88.63M | $85.52M | $130.10M | $83.33M | $86.87M | $84.08M | $118.28M | $118.48M | $86.59M | $82.41M | $107.52M | $75.74M | $76.84M | $82.71M | $63.98M | $86.11M | $84.85M | $69.80M | $159.04M | $66.17M | $66.90M | $43.80M | $60.08M | $48.54M | $41.83M |
| Low Forecast | $92.32M | $91.68M | $88.83M | $85.68M | $86.54M | $85.75M | $85.52M | $86.74M | $82.40M | $85.10M | $80.89M | $78.85M | $78.99M | $86.59M | $82.41M | $71.68M | $75.74M | $76.84M | $82.71M | $42.66M | $86.11M | $84.85M | $69.80M | $106.03M | $66.17M | $66.90M | $43.80M | $40.05M | $32.36M | $27.89M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.99% | 1.02% | 0.86% | 0.80% | 0.95% | 1.03% | 0.96% | 1.20% | 1.21% | 1.20% | 2.05% | 1.41% | 1.30% | 1.53% | 0.68% | 1.29% | 1.34% | 1.11% | 0.97% | 1.00% | 1.02% |
Ameris Bancorp's average Quarter SG&A projection for Dec 23 is $82.97M, based on 3 Wall Street analysts, with a range of $82.40M to $83.33M. The forecast indicates a -1.95% fall compared to ABCB last annual SG&A of $84.62M (Sep 23).
Ameris Bancorp EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 4 | 2 | 1 | 1 | 3 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 8 | 7 | 6 | 5 | 5 | 5 | 5 | 13 | 17 |
| EPS | - | - | - | - | - | - | - | - | - | $1.16 | $0.91 | $0.87 | $1.19 | $1.34 | $1.30 | $1.18 | $1.18 | $1.18 | $1.27 | $1.80 | $1.36 | $1.68 | $0.47 | $0.28 | $0.88 | $0.31 | $0.82 | $0.84 | $0.70 | $0.59 |
| Avg Forecast | $1.31 | $1.26 | $1.18 | $1.10 | $1.17 | $1.15 | $1.14 | $1.04 | $1.10 | $1.13 | $1.14 | $1.18 | $1.34 | $1.33 | $1.19 | $1.06 | $1.17 | $1.18 | $1.20 | $1.13 | $1.16 | $0.89 | $0.60 | $0.76 | $0.96 | $0.95 | $0.96 | $0.92 | $0.73 | $0.57 |
| High Forecast | $1.34 | $1.29 | $1.21 | $1.15 | $1.23 | $1.19 | $1.14 | $1.04 | $1.13 | $1.20 | $1.17 | $1.20 | $1.37 | $1.36 | $1.20 | $1.06 | $1.17 | $1.21 | $1.20 | $1.13 | $1.16 | $0.89 | $0.60 | $0.76 | $0.96 | $0.95 | $0.96 | $0.92 | $0.88 | $0.68 |
| Low Forecast | $1.28 | $1.23 | $1.15 | $1.07 | $1.08 | $1.12 | $1.14 | $1.04 | $1.05 | $1.05 | $1.11 | $1.14 | $1.30 | $1.30 | $1.17 | $1.06 | $1.17 | $1.14 | $1.20 | $1.13 | $1.16 | $0.89 | $0.60 | $0.76 | $0.96 | $0.95 | $0.96 | $0.92 | $0.58 | $0.46 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.03% | 0.80% | 0.74% | 0.89% | 1.01% | 1.09% | 1.11% | 1.01% | 1.00% | 1.06% | 1.59% | 1.17% | 1.88% | 0.78% | 0.37% | 0.92% | 0.33% | 0.86% | 0.91% | 0.96% | 1.04% |
According to 3 Wall Street analysts, Ameris Bancorp's projected average Quarter EPS for Dec 23 is $1.10, with a low estimate of $1.05 and a high estimate of $1.13. This represents a -4.80% decrease compared to ABCB previous annual EPS of $1.16 (Sep 23).
Ameris Bancorp Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| LBAI | Lakeland Bancorp | $13.43 | $20.00 | 48.92% | Strong Buy |
| INDB | Independent Bank | $61.84 | $78.75 | 27.34% | Strong Buy |
| CFFN | Capitol Federal Financial | $6.32 | $7.00 | 10.76% | Hold |
| FFIN | First Financial Bankshares | $36.08 | $39.50 | 9.48% | Hold |
| GSBC | Great Southern Bancorp | $56.66 | $62.00 | 9.42% | Hold |
| BOKF | BOK Financial | $104.05 | $112.75 | 8.36% | Hold |
| BFST | Business First Bancshares | $26.01 | $28.00 | 7.65% | Buy |
| FBNC | First Bancorp | $41.15 | $43.00 | 4.50% | Buy |
| ABCB | Ameris Bancorp | $61.23 | $60.50 | -1.19% | Buy |
| FGBI | First Guaranty Bancshares | $10.80 | $9.50 | -12.04% | Sell |
ABCB Forecast FAQ
Is Ameris Bancorp a good buy?
Yes, according to 6 Wall Street analysts, Ameris Bancorp (ABCB) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 4 'Buy' recommendations, accounting for 66.67% of ABCB's total ratings.
What is ABCB's price target?
Ameris Bancorp (ABCB) average price target is $60.5 with a range of $54 to $67, implying a -1.19% from its last price of $61.23. The data is based on 6 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Ameris Bancorp stock go up soon?
According to Wall Street analysts' prediction for ABCB stock, the company can go down by -1.19% (from the last price of $61.23 to the average price target of $60.5), up by 9.42% based on the highest stock price target, and down by -11.81% based on the lowest stock price target.
Can Ameris Bancorp stock reach $90?
ABCB's average twelve months analyst stock price target of $60.5 does not support the claim that Ameris Bancorp can reach $90 in the near future.
What is Ameris Bancorp's current price target trend?
1 Wall Street analyst forecast a $67 price target for Ameris Bancorp (ABCB) this month, up 9.42% from its last price of $61.23. Compared to the last 3 and 12 months, the average price target increased by 9.42% and decreased by -1.19%, respectively.
What are Ameris Bancorp's analysts' financial forecasts?
Ameris Bancorp's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $1.09B (high $1.1B, low $1.08B), average EBITDA is $427.4M (high $459.43M, low $395.82M), average net income is $328.63M (high $353.04M, low $301.52M), average SG&A $368.48M (high $392.83M, low $344.55M), and average EPS is $4.5 (high $4.6, low $4.37). ABCB's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $1.16B (high $1.18B, low $1.14B), average EBITDA is $395M (high $400.79M, low $388.26M), average net income is $335.55M (high $344.84M, low $325.93M), average SG&A $364.73M (high $370.07M, low $358.5M), and average EPS is $4.86 (high $5, low $4.72).
Did the ABCB's actual financial results beat the analysts' financial forecasts?
Based on Ameris Bancorp's last annual report (Dec 2022), the company's revenue was $1.09B, beating the average analysts forecast of $1.06B by 2.37%. Apple's EBITDA was $565.7M, beating the average prediction of $436.97M by 29.46%. The company's net income was $346.54M, beating the average estimation of $337.3M by 2.74%. Apple's SG&A was $332.2M, missing the average forecast of $357.34M by -7.03%. Lastly, the company's EPS was $5, beating the average prediction of $4.92 by 1.61%. In terms of the last quarterly report (Sep 2023), Ameris Bancorp's revenue was $272.29M, missing the average analysts' forecast of $273.49M by -0.44%. The company's EBITDA was $109.45M, beating the average prediction of $92.85M by 17.88%. Ameris Bancorp's net income was $80.12M, beating the average estimation of $77.69M by 3.12%. The company's SG&A was $84.62M, missing the average forecast of $85.74M by -1.30%. Lastly, the company's EPS was $1.16, beating the average prediction of $1.13 by 3.05%