Engineers Gate Manager LP purchased a new stake in Atlantic Capital (NASDAQ:ACBI) during the 2nd quarter, Holdings Channel reports. The firm purchased 26,533 shares of the bank’s stock, valued at approximately $521,000.
A number of other large investors also recently added to or reduced their stakes in ACBI. Federated Investors Inc. PA boosted its holdings in Atlantic Capital by 158.4% in the first quarter. Federated Investors Inc. PA now owns 7,853 shares of the bank’s stock valued at $142,000 after acquiring an additional 4,814 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Atlantic Capital in the fourth quarter valued at $184,000. Principal Financial Group Inc. bought a new stake in Atlantic Capital in the first quarter valued at $199,000. California Public Employees Retirement System boosted its holdings in Atlantic Capital by 26.7% in the first quarter. California Public Employees Retirement System now owns 23,134 shares of the bank’s stock valued at $419,000 after acquiring an additional 4,876 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of Atlantic Capital during the 1st quarter valued at $542,000. Institutional investors and hedge funds own 84.75% of the company’s stock.
A number of brokerages have recently commented on ACBI. Zacks Investment Research cut shares of Atlantic Capital from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. ValuEngine upgraded shares of Atlantic Capital from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub cut shares of Atlantic Capital from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Atlantic Capital in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.75.
In related news, insider Kurt A. Shreiner sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $17.93, for a total value of $44,825.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James H. Graves sold 16,000 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $20.93, for a total transaction of $334,880.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,920 shares of company stock worth $573,377. Company insiders own 3.40% of the company’s stock.
Shares of ACBI stock opened at $18.60 on Tuesday. Atlantic Capital has a 12 month low of $15.20 and a 12 month high of $21.60. The firm has a market cap of $476.40 million, a PE ratio of 24.66 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.63.
Atlantic Capital (NASDAQ:ACBI) last announced its earnings results on Wednesday, July 25th. The bank reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. Atlantic Capital had a net margin of 1.60% and a return on equity of 6.14%. The firm had revenue of $27.35 million for the quarter, compared to analysts’ expectations of $26.47 million. analysts expect that Atlantic Capital will post 1 earnings per share for the current year.
Atlantic Capital Company Profile
Atlantic Capital Bancshares, Inc operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, money market, savings, checking, time, Internet and brokered, and demand deposits; working capital and equipment loans, loans supported by owner-occupied real estate, revolving lines of credit, term loans, letters of credit, installment and term loans, and home equity lines of credit; residential mortgage loans; and commercial real estate loans, including secured construction loans, secured mini-permanent loans, and secured or unsecured lines of credit.
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