Synovus Financial Corp Has $2.10 Million Stake in Atlantic Capital Bancshares Inc (ACBI)
Synovus Financial Corp grew its stake in Atlantic Capital Bancshares Inc (NASDAQ:ACBI) by 12.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,843 shares of the bank’s stock after purchasing an additional 12,555 shares during the period. Synovus Financial Corp owned approximately 0.45% of Atlantic Capital Bancshares worth $2,103,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ACBI. Legal & General Group Plc lifted its stake in shares of Atlantic Capital Bancshares by 11.4% during the 2nd quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock worth $114,000 after acquiring an additional 611 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Atlantic Capital Bancshares during the 3rd quarter worth approximately $133,000. Principal Financial Group Inc. bought a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth approximately $201,000. Bank of America Corp DE lifted its stake in shares of Atlantic Capital Bancshares by 5.8% during the 1st quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock worth $206,000 after acquiring an additional 598 shares during the last quarter. Finally, Teton Advisors Inc. bought a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth approximately $217,000. 79.24% of the stock is owned by institutional investors and hedge funds.
ACBI has been the subject of a number of research analyst reports. Zacks Investment Research lowered Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. BidaskClub lowered Atlantic Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods set a $20.00 price target on Atlantic Capital Bancshares and gave the stock a “hold” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.67.
Shares of Atlantic Capital Bancshares Inc (NASDAQ:ACBI) opened at $16.75 on Wednesday. Atlantic Capital Bancshares Inc has a one year low of $15.20 and a one year high of $20.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $433.52, a P/E ratio of 30.64, a P/E/G ratio of 1.26 and a beta of 0.94.
Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). The business had revenue of $23.77 million for the quarter, compared to the consensus estimate of $26.19 million. Atlantic Capital Bancshares had a return on equity of 5.05% and a net margin of 17.05%. analysts anticipate that Atlantic Capital Bancshares Inc will post 0.61 earnings per share for the current fiscal year.
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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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