Atlantic Capital Bancshares (NASDAQ:ACBI) Rating Lowered to Hold at Zacks Investment Research

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Atlantic Capital Bancshares (NASDAQ:ACBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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 also recently commented on the company. Raymond James began coverage on PennantPark Investment in a report on Monday, April 29th. They issued an “outperform” rating and a $8.00 price objective on the stock. BidaskClub upgraded Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Atlantic Capital Bancshares currently has an average rating of “Hold” and an average target price of $19.40.

Shares of NASDAQ ACBI traded up $0.21 during mid-day trading on Tuesday, reaching $17.48. The company had a trading volume of 11,656 shares, compared to its average volume of 115,493. The business has a fifty day simple moving average of $17.04. The company has a quick ratio of 0.76, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $420.86 million, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.61 and a beta of 0.93. Atlantic Capital Bancshares has a 12-month low of $14.44 and a 12-month high of $20.20.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Atlantic Capital Bancshares had a return on equity of 9.05% and a net margin of 24.14%. The firm had revenue of $22.76 million during the quarter, compared to analyst estimates of $23.20 million. Research analysts expect that Atlantic Capital Bancshares will post 1.13 earnings per share for the current year.

In related news, Director R Charles Shufeldt purchased 2,000 shares of the stock in a transaction on Friday, June 7th. The shares were bought at an average price of $16.88 per share, for a total transaction of $33,760.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System grew its holdings in Atlantic Capital Bancshares by 11.3% during the fourth quarter. California Public Employees Retirement System now owns 27,631 shares of the bank’s stock valued at $452,000 after purchasing an additional 2,807 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Atlantic Capital Bancshares during the fourth quarter valued at approximately $1,622,000. Spark Investment Management LLC grew its holdings in Atlantic Capital Bancshares by 352.0% during the first quarter. Spark Investment Management LLC now owns 56,500 shares of the bank’s stock valued at $1,007,000 after purchasing an additional 44,000 shares during the last quarter. Prudential Financial Inc. acquired a new position in Atlantic Capital Bancshares during the fourth quarter valued at approximately $275,000. Finally, BlackRock Inc. grew its holdings in Atlantic Capital Bancshares by 5.7% during the fourth quarter. BlackRock Inc. now owns 1,459,311 shares of the bank’s stock valued at $23,887,000 after purchasing an additional 78,161 shares during the last quarter. Institutional investors own 86.08% of the company’s stock.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc operates as the bank holding company for Atlantic Capital Bank, N.A. that provides banking products and services in the Metropolitan Atlanta and rest of the United States. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits; and NOW accounts.

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