Revenue Update on Ameris Bancorp(NASDAQ:ABCB)

Ameris Bancorp(NASDAQ:ABCB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $82.97M. Analysts estimated a revenue of $81.62M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.53.

In a different note, On Apr 26, 2016, Piper Jaffray said it Downgrades its rating on Ameris Bancorp. The shares have been rated ‘Neutral’ by the firm.

Ameris Bancorp (ABCB) shares turned negative on Thursdays trading session with the shares closing down -0.26 points or -0.77% at a volume of 1,55,272. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.65. The peak price level was also seen at $33.65 while the days lowest was $33.21. Finally the shares closed at $33.4. The 52-week high of the shares is $35.21 while the 52-week low is $24.96. According to the latest information available, the market cap of the company is $1,163 M.

Several Insider Transactions has been reported to the SEC. On Aug 7, 2015, William H Stern (director) purchased 2,552 shares at $28.18 per share price.Also, 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.

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