Atlantic Capital Bancshares, Inc. (ACBI) Downgraded by Zacks Investment Research to “Hold”
Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
A number of other research firms have also commented on ACBI. Gabelli started coverage on shares of Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They issued a “buy” rating and a $23.00 price objective on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price objective on shares of Atlantic Capital Bancshares in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. One investment 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. The stock currently has an average rating of “Hold” and a consensus target price of $21.67.
Atlantic Capital Bancshares (NASDAQ:ACBI) remained flat at $18.70 during midday trading on Tuesday. 41,812 shares of the company’s stock were exchanged. Atlantic Capital Bancshares has a one year low of $13.80 and a one year high of $20.20. The firm has a 50-day moving average price of $18.89 and a 200 day moving average price of $18.83. The company has a market capitalization of $479.86 million, a P/E ratio of 37.33 and a beta of 0.99.
Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $26 million for 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%. On average, equities research analysts predict that Atlantic Capital Bancshares will post $0.68 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ACBI. RMB Capital Management LLC raised its position in 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 worth $19,205,000 after buying an additional 134,285 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 valued at $18,290,000 after buying an additional 15,692 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $15,939,000 after buying an additional 290,120 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Atlantic Capital Bancshares by 8.1% in the second quarter. Vanguard Group Inc. now owns 780,758 shares of the bank’s stock valued at $14,835,000 after buying an additional 58,216 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Atlantic Capital Bancshares during the first quarter valued at $10,775,000. Institutional investors own 75.36% 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 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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