Voya Investment Management LLC acquired a new position in Atlantic Capital Bancshares Inc (NASDAQ:ACBI) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,496 shares of the bank’s stock, valued at approximately $226,000.
Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Atlantic Capital Bancshares by 26.7% in the 1st quarter. California Public Employees Retirement System now owns 23,134 shares of the bank’s stock worth $419,000 after purchasing an additional 4,876 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Atlantic Capital Bancshares by 27.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 418,950 shares of the bank’s stock worth $7,583,000 after purchasing an additional 89,867 shares during the period. Stifel Financial Corp lifted its position in shares of Atlantic Capital Bancshares by 68.5% in the 1st quarter. Stifel Financial Corp now owns 72,332 shares of the bank’s stock worth $1,313,000 after purchasing an additional 29,411 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Atlantic Capital Bancshares in the 1st quarter worth about $199,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Atlantic Capital Bancshares by 5.7% in the 1st quarter. Allianz Asset Management GmbH now owns 55,160 shares of the bank’s stock worth $998,000 after purchasing an additional 2,977 shares during the period. Institutional investors own 83.83% of the company’s stock.
In related news, insider Kurt A. Shreiner sold 2,500 shares of Atlantic Capital Bancshares stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $17.93, for a total transaction of $44,825.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.40% of the company’s stock.
Several equities research analysts have recently commented on ACBI shares. BidaskClub cut shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. ValuEngine raised shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Zacks Investment Research raised shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, October 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Atlantic Capital Bancshares in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.00.
Shares of NASDAQ ACBI opened at $15.65 on Friday. Atlantic Capital Bancshares Inc has a 1 year low of $15.20 and a 1 year high of $21.60. The stock has a market cap of $413.23 million, a P/E ratio of 21.39 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95.
Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings results on Wednesday, July 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Atlantic Capital Bancshares had a net margin of 1.60% and a return on equity of 6.14%. The company had revenue of $27.35 million during the quarter, compared to analysts’ expectations of $26.47 million. As a group, research analysts forecast that Atlantic Capital Bancshares Inc will post 1 earnings per share for the current fiscal year.
About Atlantic Capital Bancshares
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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