Atlantic Capital Bancshares Inc. (NASDAQ:ACBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Atlantic Capital Bancshares, Inc. is a bank holding company. The Company’s corporate and business banking services include lending and financing, treasury services and international banking. Its private banking products and services include deposit products such as checking accounts, money market accounts, savings accounts and certificates of deposit; credit products include home equity lines of credit, secured personal lines of credit, unsecured lines of credit, home improvement loans, car loans and credit cards and services include online banking and bill payment, wire transfers, automated teller machine, eDelivery of statements and documents and person-to-person payments. Atlantic Capital Bancshares, Inc. is based in Atlanta, Georgia. “
A number of other equities analysts have also commented on ACBI. FBR & Co assumed coverage on Atlantic Capital Bancshares in a research note on Wednesday, May 18th. They issued a “market perform” rating and a $16.00 price objective on the stock. Citigroup Inc. lowered Atlantic Capital Bancshares to a “market perform” rating in a research note on Friday, July 29th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Atlantic Capital Bancshares in a research note on Sunday, July 31st. Sandler O’Neill lowered Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Raymond James Financial Inc. lowered Atlantic Capital Bancshares from an “outperform” rating to a “market perform” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Atlantic Capital Bancshares has an average rating of “Hold” and a consensus target price of $16.00.
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Atlantic Capital Bancshares (NASDAQ:ACBI) traded up 0.98% on Monday, reaching $15.45. The company had a trading volume of 45,179 shares. The company’s 50 day moving average price is $15.19 and its 200-day moving average price is $14.31. Atlantic Capital Bancshares has a 12 month low of $11.55 and a 12 month high of $17.50. The company has a market capitalization of $383.75 million and a price-to-earnings ratio of 160.94.
Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Atlantic Capital Bancshares had a return on equity of 4.11% and a net margin of 3.04%. On average, equities analysts predict that Atlantic Capital Bancshares will post $0.64 earnings per share for the current fiscal year.
In other Atlantic Capital Bancshares news, Director Walter M. Deriso, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.55, for a total value of $145,500.00. Following the transaction, the director now owns 175,719 shares of the company’s stock, valued at $2,556,711.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Lloyd Williams sold 4,500 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $14.33, for a total value of $64,485.00. Following the completion of the transaction, the chief executive officer now directly owns 156,366 shares in the company, valued at approximately $2,240,724.78. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Berkeley Capital Partners LLC bought a new position in Atlantic Capital Bancshares during the first quarter valued at $314,000. Geode Capital Management LLC raised its position in Atlantic Capital Bancshares by 21.3% in the first quarter. Geode Capital Management LLC now owns 47,316 shares of the company’s stock valued at $659,000 after buying an additional 8,306 shares during the last quarter. UBS Group AG raised its position in Atlantic Capital Bancshares by 33,812.9% in the first quarter. UBS Group AG now owns 63,078 shares of the company’s stock valued at $879,000 after buying an additional 62,892 shares during the last quarter. Maltese Capital Management LLC bought a new position in Atlantic Capital Bancshares during the fourth quarter valued at $3,371,000. Finally, Kennedy Capital Management Inc. raised its position in Atlantic Capital Bancshares by 21.7% in the first quarter. Kennedy Capital Management Inc. now owns 259,721 shares of the company’s stock valued at $3,621,000 after buying an additional 46,268 shares during the last quarter. 61.75% of the stock is currently owned by hedge funds and other institutional investors.
About Atlantic Capital Bancshares
Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed commercial bank. The Bank provides an array of credit, treasury management and deposit products and services to growth businesses, middle market corporations, commercial real estate developers and investors, and private clients.
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