Atlantic Capital Bancshares Inc. (ACBI) Downgraded to Sell at Zacks Investment Research
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. “
Several other research analysts have also recently weighed in on the company. Raymond James Financial Inc. cut Atlantic Capital Bancshares from an outperform rating to a market perform rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $16.00 price objective on shares of Atlantic Capital Bancshares in a research report on Sunday, June 26th. Sandler O’Neill cut Atlantic Capital Bancshares from a buy rating to a hold rating in a research report on Friday, July 29th. Finally, Citigroup Inc. cut Atlantic Capital Bancshares to a market perform rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $16.00.
Atlantic Capital Bancshares (NASDAQ:ACBI) opened at 14.98 on Friday. Atlantic Capital Bancshares has a 12 month low of $11.55 and a 12 month high of $17.50. The company has a market capitalization of $372.07 million and a P/E ratio of 156.04. The firm has a 50-day moving average price of $15.22 and a 200 day moving average price of $14.53.
Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. Atlantic Capital Bancshares had a return on equity of 4.11% and a net margin of 3.04%. Analysts expect that Atlantic Capital Bancshares will post $0.64 EPS for the current year.
In other news, Director Walter M. Deriso, Jr. sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $14.50, for a total transaction of $145,000.00. Following the transaction, the director now owns 127,169 shares in the company, valued at $1,843,950.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Walter M. Deriso, Jr. sold 9,368 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $14.68, for a total value of $137,522.24. Following the transaction, the director now owns 175,140 shares in the company, valued at approximately $2,571,055.20. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Atlantic Capital Bancshares by 34,810.6% in the second quarter. BlackRock Fund Advisors now owns 445,459 shares of the company’s stock worth $6,441,000 after buying an additional 444,183 shares during the period. Mendon Capital Advisors Corp raised its position in Atlantic Capital Bancshares by 34.0% in the first quarter. Mendon Capital Advisors Corp now owns 1,539,571 shares of the company’s stock worth $21,462,000 after buying an additional 390,451 shares during the period. RMB Capital Management LLC raised its position in Atlantic Capital Bancshares by 59.7% in the first quarter. RMB Capital Management LLC now owns 629,849 shares of the company’s stock worth $8,780,000 after buying an additional 235,428 shares during the period. State Street Corp bought a new position in Atlantic Capital Bancshares during the second quarter worth approximately $3,033,000. Finally, BlackRock Institutional Trust Company N.A. bought a new position in Atlantic Capital Bancshares during the second quarter worth approximately $2,802,000. Institutional investors own 61.75% of the company’s stock.
About Atlantic Capital Bancshares
Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed 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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