Atlantic Capital Bancshares (ACBI) Upgraded by BidaskClub to “Sell”

Atlantic Capital Bancshares (NASDAQ:ACBI) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, July 11th. TheStreet lowered Atlantic Capital Bancshares from a “b” rating to a “c+” rating in a research note on Thursday, August 30th. ValuEngine raised Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Atlantic Capital Bancshares in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.75.

NASDAQ ACBI opened at $16.98 on Friday. Atlantic Capital Bancshares has a 1-year low of $15.20 and a 1-year high of $21.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $437.24 million, a PE ratio of 32.04 and a beta of 0.60.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Wednesday, July 25th. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Atlantic Capital Bancshares had a return on equity of 6.14% and a net margin of 1.60%. The company had revenue of $27.35 million during the quarter, compared to analyst estimates of $26.47 million. Equities research analysts forecast that Atlantic Capital Bancshares will post 1 earnings per share for the current year.

In other news, insider Kurt A. Shreiner sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $17.93, for a total value of $44,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Laurion Capital Management LP bought a new position in Atlantic Capital Bancshares during the 2nd quarter valued at approximately $1,616,000. Teton Advisors Inc. raised its position in Atlantic Capital Bancshares by 2.4% during the 2nd quarter. Teton Advisors Inc. now owns 256,308 shares of the bank’s stock valued at $5,036,000 after purchasing an additional 6,000 shares during the last quarter. Citadel Advisors LLC raised its position in Atlantic Capital Bancshares by 157.1% during the 2nd quarter. Citadel Advisors LLC now owns 74,885 shares of the bank’s stock valued at $1,471,000 after purchasing an additional 45,761 shares during the last quarter. Principal Financial Group Inc. bought a new position in Atlantic Capital Bancshares during the 1st quarter valued at approximately $199,000. Finally, Russell Investments Group Ltd. raised its position in Atlantic Capital Bancshares by 10.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 227,248 shares of the bank’s stock valued at $4,465,000 after purchasing an additional 20,900 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Atlantic Capital Bancshares 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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