Atlantic Capital Bancshares (NASDAQ:ACBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $20.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.42% from the company’s current price.
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. “
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Atlantic Capital Bancshares from a “c” rating to a “b-” rating in a research note on Friday, December 22nd. BidaskClub upgraded shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating in a research note on Saturday, March 24th. Sandler O’Neill set a $18.00 price target on shares of Atlantic Capital Bancshares and gave the stock a “hold” rating in a research note on Monday, January 29th. SunTrust Banks restated a “hold” rating and set a $18.00 price target on shares of Atlantic Capital Bancshares in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 price target on shares of Atlantic Capital Bancshares in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Atlantic Capital Bancshares presently has an average rating of “Buy” and an average price target of $20.00.
Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Monday, January 29th. The bank reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.08). The firm had revenue of $24.68 million for the quarter, compared to analyst estimates of $24.55 million. Atlantic Capital Bancshares had a positive return on equity of 4.33% and a negative net margin of 3.31%. equities research analysts anticipate that Atlantic Capital Bancshares will post 0.93 EPS for the current year.
In related news, insider Kurt A. Shreiner sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $17.73, for a total value of $44,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. Jr. Oglesby sold 6,719 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $17.99, for a total transaction of $120,874.81. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in Atlantic Capital Bancshares by 22.8% in the 2nd quarter. State Street Corp now owns 313,395 shares of the bank’s stock worth $5,958,000 after purchasing an additional 58,222 shares during the last quarter. Jacobs Asset Management LLC bought a new position in Atlantic Capital Bancshares in the 3rd quarter worth approximately $6,807,000. Citadel Advisors LLC bought a new position in Atlantic Capital Bancshares in the 3rd quarter worth approximately $699,000. Teton Advisors Inc. raised its position in Atlantic Capital Bancshares by 66.3% in the 4th quarter. Teton Advisors Inc. now owns 69,008 shares of the bank’s stock worth $1,215,000 after purchasing an additional 27,500 shares during the last quarter. Finally, Maltese Capital Management LLC bought a new position in Atlantic Capital Bancshares in the 3rd quarter worth approximately $373,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Atlantic Capital Bancshares Company Profile
Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a 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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