Atlantic Capital Bancshares (NASDAQ:ACBI) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a strong sell rating to a sell rating in a report released on Wednesday morning, BidAskClub reports.

ACBI has been the subject of a number of other reports. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a buy rating to a hold rating in a report on Tuesday, July 9th. Gabelli reiterated a buy rating on shares of Atlantic Capital Bancshares in a report on Monday, July 29th. Finally, Raymond James lowered shares of Atlantic Capital Bancshares from an outperform rating to a market perform rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $19.40.

Shares of ACBI opened at $17.60 on Wednesday. The company has a market cap of $422.07 million, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. The company has a current ratio of 0.92, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Atlantic Capital Bancshares has a fifty-two week low of $14.44 and a fifty-two week high of $19.79. The business has a 50 day simple moving average of $17.38.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. Atlantic Capital Bancshares had a net margin of 42.79% and a return on equity of 8.66%. The firm had revenue of $22.92 million during the quarter, compared to analyst estimates of $50.00 million. Equities research analysts forecast that Atlantic Capital Bancshares will post 1.12 EPS for the current year.

In other news, Director R Charles Shufeldt purchased 2,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $16.88 per share, for a total transaction of $33,760.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pacific Ridge Capital Partners LLC raised its holdings in Atlantic Capital Bancshares by 0.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 186,645 shares of the bank’s stock worth $3,195,000 after purchasing an additional 730 shares in the last quarter. 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 purchasing an additional 842 shares in the last quarter. Quantamental Technologies LLC bought a new position in Atlantic Capital Bancshares in the 1st quarter worth $25,000. Macquarie Group Ltd. bought a new position in Atlantic Capital Bancshares in the 4th quarter worth $28,000. Finally, Panagora Asset Management Inc. bought a new position in Atlantic Capital Bancshares in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 86.03% 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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Analyst Recommendations for Atlantic Capital Bancshares (NASDAQ:ACBI)

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