Atlantic Capital Bancshares (NASDAQ:ACBI) Downgraded by BidaskClub

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BidaskClub downgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a sell rating to a strong sell rating in a research note published on Wednesday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on ACBI. Zacks Investment Research cut shares of Atlantic Capital Bancshares from a buy rating to a hold rating in a research note on Tuesday, July 9th. Gabelli reaffirmed a buy rating on shares of Atlantic Capital Bancshares in a research note on Monday, July 29th. Finally, Raymond James cut shares of Atlantic Capital Bancshares from an outperform rating to a market perform rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $19.40.

Shares of NASDAQ ACBI opened at $17.56 on Wednesday. The stock has a market cap of $395.35 million, a price-to-earnings ratio of 16.26, a PEG ratio of 1.47 and a beta of 0.94. Atlantic Capital Bancshares has a 52 week low of $14.44 and a 52 week high of $19.79. The company’s 50-day moving average price is $17.50 and its 200 day moving average price is $17.85. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The firm had revenue of $22.92 million for the quarter, compared to analysts’ expectations of $50.00 million. Atlantic Capital Bancshares had a net margin of 42.79% and a return on equity of 8.56%. As a group, research analysts expect that Atlantic Capital Bancshares will post 1.12 earnings per share for the current year.

In other news, Director R Charles Shufeldt purchased 2,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $16.88 per share, with a total value of $33,760.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Atlantic Capital Bancshares by 24.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 763,747 shares of the bank’s stock worth $12,503,000 after acquiring an additional 149,775 shares during the last quarter. Geode Capital Management LLC raised its holdings in Atlantic Capital Bancshares by 12.7% in the 4th quarter. Geode Capital Management LLC now owns 296,627 shares of the bank’s stock worth $4,855,000 after acquiring an additional 33,432 shares during the last quarter. Bank of America Corp DE raised its holdings in Atlantic Capital Bancshares by 34.4% in the 4th quarter. Bank of America Corp DE now owns 19,813 shares of the bank’s stock worth $324,000 after acquiring an additional 5,071 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Atlantic Capital Bancshares by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,749 shares of the bank’s stock worth $143,000 after acquiring an additional 6,833 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Atlantic Capital Bancshares by 22.1% in the 4th quarter. Legal & General Group Plc now owns 4,655 shares of the bank’s stock worth $76,000 after acquiring an additional 842 shares during the last quarter. 85.45% of the stock is currently owned by institutional investors.

Atlantic Capital Bancshares Company Profile

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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Analyst Recommendations for Atlantic Capital Bancshares (NASDAQ:ACBI)

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