Atlantic Capital Bancshares (NASDAQ:ACBI) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

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. “

Separately, Raymond James raised shares of Atlantic Capital Bancshares from a market perform rating to an outperform rating and raised their price target for the stock from $28.00 to $32.50 in a report on Thursday, December 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Atlantic Capital Bancshares currently has an average rating of Buy and an average target price of $27.94.

NASDAQ ACBI opened at $33.41 on Tuesday. Atlantic Capital Bancshares has a 1 year low of $16.64 and a 1 year high of $33.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $678.39 million, a PE ratio of 14.16 and a beta of 0.81. The company’s 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $26.71.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Tuesday, October 26th. The bank reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.13. Atlantic Capital Bancshares had a net margin of 40.56% and a return on equity of 13.88%. The company had revenue of $29.38 million for the quarter, compared to analyst estimates of $29.47 million. During the same quarter last year, the firm earned $0.40 EPS. On average, research analysts anticipate that Atlantic Capital Bancshares will post 2.32 EPS for the current year.

In related news, insider Robert R. Bugbee II sold 1,000 shares of Atlantic Capital Bancshares stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $27.15, for a total transaction of $27,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Graves sold 10,000 shares of Atlantic Capital Bancshares stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $29.85, for a total transaction of $298,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,750 shares of company stock valued at $374,173. Corporate insiders own 4.40% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its holdings in Atlantic Capital Bancshares by 12.1% in the second quarter. Invesco Ltd. now owns 88,269 shares of the bank’s stock worth $2,248,000 after buying an additional 9,534 shares during the last quarter. Putnam Investments LLC bought a new stake in shares of Atlantic Capital Bancshares in the second quarter worth approximately $3,552,000. Susquehanna International Group LLP bought a new stake in shares of Atlantic Capital Bancshares in the second quarter worth approximately $259,000. Goldman Sachs Group Inc. grew its stake in shares of Atlantic Capital Bancshares by 11.8% in the second quarter. Goldman Sachs Group Inc. now owns 365,417 shares of the bank’s stock worth $9,303,000 after acquiring an additional 38,686 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Atlantic Capital Bancshares by 99,685.7% in the second quarter. Metropolitan Life Insurance Co NY now owns 6,985 shares of the bank’s stock worth $178,000 after acquiring an additional 6,978 shares during the period. 84.45% of the stock is owned by institutional investors and hedge funds.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc is a holding company, which engages in the provision of commercial banking services. The company offers an array of credit, treasury management, and deposit products and services. It also provides capital markets, mortgage banking, and electronic banking services to its corporate, business, and individual clients.

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