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Piper Sandler Downgrades Ameris to Neutral, Maintains Price Target to $96

Benzinga Newsdesk

Piper Sandler analyst Stephen Scouten downgrades Ameris (NYSE:ABCB) from Overweight to Neutral and maintains the price target from $96 to $96.

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    Allen Matkins Wins $79.54 Million Judgment for Balboa Capital Founder Patrick Byrne Against Ameris Bank

    A U.S. District Court entered a $79.54 million judgment against Ameris Bank in favor of Patrick Byrne, founder of Balboa Capital, for whistleblower retaliation, wrongful termination, and unpaid wages. A jury unanimously found Ameris liable on all claims, including $62.9 million in punitive damages based on findings of malice, oppression, or fraud. The judgment also covers approximately $9 million in unpaid LTIP wages and bonuses owed to Byrne and over 140 other Balboa Division employees.

    ABCB