Zacks: Brokerages Expect Atlantic Capital Bancshares, Inc. (ACBI) Will Announce Earnings of $0.19 Per Share
Brokerages expect that Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) will report earnings of $0.19 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Atlantic Capital Bancshares’ earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.20. Atlantic Capital Bancshares reported earnings per share of $0.16 during the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The firm is scheduled to announce its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Atlantic Capital Bancshares will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.64 to $0.71. For the next year, analysts expect that the business will post earnings of $0.88 per share, with EPS estimates ranging from $0.85 to $0.92. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Atlantic Capital Bancshares.
Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $26.00 million during the quarter, compared to analyst estimates of $25.10 million. Atlantic Capital Bancshares had a net margin of 12.18% and a return on equity of 4.45%.
ACBI has been the topic of a number of research reports. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 target price on shares of Atlantic Capital Bancshares in a research report on Friday, June 2nd. Gabelli initiated coverage on shares of Atlantic Capital Bancshares in a research report on Wednesday, June 14th. They set a “buy” rating and a $23.00 target price on the stock. Finally, BidaskClub lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Atlantic Capital Bancshares currently has an average rating of “Hold” and a consensus price target of $21.67.
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In other Atlantic Capital Bancshares news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $16.50, for a total value of $51,300,595.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ACBI. Legal & General Group Plc increased its holdings in Atlantic Capital Bancshares by 11.4% in the 2nd quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock valued at $114,000 after buying an additional 611 shares during the period. Principal Financial Group Inc. bought a new stake in Atlantic Capital Bancshares in the 2nd quarter valued at $201,000. American International Group Inc. increased its holdings in Atlantic Capital Bancshares by 7.0% in the 1st quarter. American International Group Inc. now owns 10,661 shares of the bank’s stock valued at $202,000 after buying an additional 702 shares during the period. Bank of America Corp DE increased its holdings in Atlantic Capital Bancshares by 5.8% in the 1st quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock valued at $206,000 after buying an additional 598 shares during the period. Finally, Nationwide Fund Advisors increased its holdings in Atlantic Capital Bancshares by 1.8% in the 1st quarter. Nationwide Fund Advisors now owns 11,091 shares of the bank’s stock valued at $210,000 after buying an additional 193 shares during the period. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
Atlantic Capital Bancshares (NASDAQ:ACBI) opened at 17.70 on Monday. Atlantic Capital Bancshares has a one year low of $13.80 and a one year high of $20.20. The firm’s 50-day moving average is $18.01 and its 200 day moving average is $18.56. The firm has a market capitalization of $454.20 million, a price-to-earnings ratio of 35.33 and a beta of 1.04.
About Atlantic Capital Bancshares
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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