Zacks Investment Research cut shares of Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) from a hold rating to a sell rating in a report released 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. “

ACBI has been the subject of several other reports. BidaskClub downgraded shares of Atlantic Capital Bancshares from a sell rating to a strong sell rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods set a $20.00 price objective on shares of Atlantic Capital Bancshares and gave the stock a hold rating in a research note on Friday, August 18th. Finally, Gabelli began coverage on shares of Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They set a buy rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $21.67.

Shares of Atlantic Capital Bancshares (ACBI) opened at 18.80 on Tuesday. The firm’s 50-day moving average is $17.67 and its 200-day moving average is $18.53. The firm has a market capitalization of $482.43 million, a price-to-earnings ratio of 37.52 and a beta of 1.03. Atlantic Capital Bancshares has a 12-month low of $13.80 and a 12-month high of $20.20.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Atlantic Capital Bancshares had a net margin of 12.18% and a return on equity of 4.45%. The company had revenue of $26.00 million during the quarter, compared to the consensus estimate of $25.10 million. Equities research analysts forecast that Atlantic Capital Bancshares will post $0.68 EPS for the current fiscal year.

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In other news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the company’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 Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in shares of Atlantic Capital Bancshares by 8.5% in the second quarter. California State Teachers Retirement System now owns 37,019 shares of the bank’s stock valued at $703,000 after purchasing an additional 2,900 shares during the period. The Manufacturers Life Insurance Company boosted 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 purchasing an additional 15,692 shares during the period. State Street Corp boosted its stake in shares of Atlantic Capital Bancshares by 22.8% in the second quarter. State Street Corp now owns 313,395 shares of the bank’s stock valued at $5,958,000 after purchasing an additional 58,222 shares during the period. Stifel Financial Corp purchased a new position in shares of Atlantic Capital Bancshares in the second quarter valued at $353,000. Finally, Huber Capital Management LLC purchased a new position in shares of Atlantic Capital Bancshares in the second quarter valued at $3,684,000. Institutional investors and hedge funds own 78.34% of the company’s stock.

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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