$26.19 Million in Sales Expected for Atlantic Capital Bancshares, Inc. (ACBI) This Quarter
Wall Street analysts expect Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) to announce $26.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Atlantic Capital Bancshares’ earnings. The lowest sales estimate is $25.67 million and the highest is $26.50 million. Atlantic Capital Bancshares reported sales of $23.49 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The business is scheduled to issue its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Atlantic Capital Bancshares will report full year sales of $26.19 million for the current financial year, with estimates ranging from $97.80 million to $102.40 million. For the next year, analysts expect that the company will post sales of $111.34 million per share, with estimates ranging from $102.30 million to $116.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Atlantic Capital Bancshares.
Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its earnings results on Friday, July 28th. The bank reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $26 million during the quarter, compared to the consensus estimate 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 raised shares of Atlantic Capital Bancshares from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 28th. 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. Keefe, Bruyette & Woods set a $20.00 target price on shares of Atlantic Capital Bancshares and gave the stock a “hold” rating in a research report on Friday, August 18th. 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.67.
In other 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 filing with the SEC, which is available at this link. 4.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of ACBI. RMB Capital Management LLC increased its stake in shares of Atlantic Capital Bancshares by 15.3% in the first quarter. RMB Capital Management LLC now owns 1,013,469 shares of the bank’s stock valued at $19,205,000 after buying an additional 134,285 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Atlantic Capital Bancshares by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 962,629 shares of the bank’s stock worth $18,290,000 after buying an additional 15,692 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Atlantic Capital Bancshares by 52.9% in the second quarter. Bank of New York Mellon Corp now owns 838,883 shares of the bank’s stock worth $15,939,000 after buying an additional 290,120 shares in the last quarter. Vanguard Group Inc. boosted its position in Atlantic Capital Bancshares by 8.1% in the second quarter. Vanguard Group Inc. now owns 780,758 shares of the bank’s stock worth $14,835,000 after buying an additional 58,216 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Atlantic Capital Bancshares during the first quarter worth about $10,775,000. Institutional investors own 78.34% of the company’s stock.
Atlantic Capital Bancshares (NASDAQ ACBI) opened at 17.95 on Friday. The stock has a 50 day moving average of $18.44 and a 200 day moving average of $18.70. Atlantic Capital Bancshares has a 52 week low of $13.80 and a 52 week high of $20.20. The stock has a market capitalization of $460.62 million, a P/E ratio of 35.83 and a beta of 0.99.
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Atlantic Capital Bancshares Company Profile
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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