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

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. “

Other analysts have also recently issued research reports about the stock. Gabelli assumed coverage on shares of Atlantic Capital Bancshares in a report on Wednesday, June 14th. They issued a buy rating and a $23.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $20.00 target price on shares of Atlantic Capital Bancshares in a report on Friday, June 2nd. Finally, BidaskClub cut shares of Atlantic Capital Bancshares from a hold rating to a sell rating in a 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 stock presently has a consensus rating of Hold and a consensus price target of $21.33.

Atlantic Capital Bancshares (NASDAQ:ACBI) opened at 18.65 on Thursday. Atlantic Capital Bancshares has a 12 month low of $13.80 and a 12 month high of $20.20. The stock has a market cap of $477.83 million, a P/E ratio of 37.23 and a beta of 0.99. The stock has a 50 day moving average of $18.87 and a 200-day moving average of $18.90.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its earnings results on Friday, July 28th. The bank reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $26 million for the quarter, compared to analysts’ expectations of $25.10 million. Atlantic Capital Bancshares had a net margin of 12.18% and a return on equity of 4.49%. On average, equities analysts forecast that Atlantic Capital Bancshares will post $0.66 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its position in shares of Atlantic Capital Bancshares by 1.8% in the first quarter. Nationwide Fund Advisors now owns 11,091 shares of the bank’s stock valued at $210,000 after buying an additional 193 shares in the last quarter. Patten Group Inc. raised its position in shares of Atlantic Capital Bancshares by 3.5% in the first quarter. Patten Group Inc. now owns 12,112 shares of the bank’s stock valued at $229,000 after buying an additional 405 shares in the last quarter. Bank of America Corp DE raised its position in shares of Atlantic Capital Bancshares by 5.8% in the first 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 in the last quarter. American International Group Inc. raised its position in shares of Atlantic Capital Bancshares by 7.0% in the first 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 in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Atlantic Capital Bancshares by 10.2% in the first quarter. TD Asset Management Inc. now owns 22,075 shares of the bank’s stock valued at $418,000 after buying an additional 2,050 shares in the last quarter. 74.14% of the stock is currently owned by hedge funds and other institutional investors.

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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