Zacks Investment Research upgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a hold rating to a buy rating in a report issued on Monday. They currently have $19.00 price target on the bank’s stock.
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 research firms also recently weighed in on ACBI. BidaskClub downgraded shares of Atlantic Capital Bancshares from a strong-buy rating to a buy rating in a research report on Monday, June 18th. Keefe, Bruyette & Woods reiterated a neutral rating on shares of Atlantic Capital Bancshares in a research report on Friday, July 27th. ValuEngine upgraded shares of Atlantic Capital Bancshares from a sell rating to a hold rating in a research report on Monday, August 20th. Finally, TheStreet downgraded shares of Atlantic Capital Bancshares from a b rating to a c+ rating in a research report on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $19.00.
Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly 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 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 the consensus estimate of $26.47 million. On average, sell-side analysts anticipate that Atlantic Capital Bancshares will post 1 earnings per share for the current year.
In other Atlantic Capital Bancshares news, insider Kurt A. Shreiner sold 2,500 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Atlantic Capital Bancshares by 26.1% during the second quarter. BlackRock Inc. now owns 1,350,628 shares of the bank’s stock valued at $26,540,000 after purchasing an additional 279,444 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Atlantic Capital Bancshares by 1.4% during the first quarter. The Manufacturers Life Insurance Company now owns 958,908 shares of the bank’s stock valued at $17,357,000 after purchasing an additional 12,970 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. raised its position in Atlantic Capital Bancshares by 1.9% during the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 764,829 shares of the bank’s stock valued at $15,029,000 after purchasing an additional 14,300 shares in the last quarter. Millennium Management LLC raised its position in Atlantic Capital Bancshares by 80.0% during the first quarter. Millennium Management LLC now owns 566,838 shares of the bank’s stock valued at $10,260,000 after purchasing an additional 251,861 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Atlantic Capital Bancshares by 26.0% during the second quarter. Dimensional Fund Advisors LP now owns 527,670 shares of the bank’s stock valued at $10,369,000 after purchasing an additional 108,720 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.
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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