Ameris Bancorp (ABCB) is Downgraded by Piper Jaffray to Neutral

Ameris Bancorp (ABCB) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 26, 2016.

Ameris Bancorp opened for trading at $31.32 and hit $32.755 on the upside on Friday, eventually ending the session at $32.39, with a gain of 3.95% or 1.23 points. The heightened volatility saw the trading volume jump to 4,35,249 shares. Company has a market cap of $1,043 M.

In a different news, on Aug 7, 2015, William H Stern (director) purchased 2,552 shares at $28.18 per share price. According to the SEC, on Aug 5, 2015, Leo J Hill (director) purchased 1,500 shares at $28.00 per share price. On Jul 29, 2015, Robert Dale Ezzell (director) purchased 6,800 shares at $26.08 per share price, according to the Form-4 filing with the securities and exchange commission.

Ameris Bancorp is a financial holding company. The Company’s business is conducted primarily through its wholly owned banking subsidiary Ameris Bank (the Bank) which provides a range of banking services to its retail and commercial customers. Its customers are primarily concentrated in markets in Georgia Alabama Florida and South Carolina. It performs certain shareholder and investor relations functions. The Company maintains a diversified loan portfolio by providing a range of commercial and retail lending services to business entities and individuals. It invests in federal state and municipal obligations corporate obligations public housing authority bonds industrial development revenue bonds securities issued by Government-Sponsored Enterprises (GSEs) and satisfactorily-rated trust preferred obligations. The Company provides a range of deposit accounts and services to both retail and commercial customers.

Ameris Bancorp

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