Atlantic Capital Bancshares Inc. (ACBI) Upgraded by Zacks Investment Research to “Hold”
Atlantic Capital Bancshares Inc. (NASDAQ:ACBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Atlantic Capital Bancshares in a report on Sunday, July 31st. Sandler O’Neill downgraded shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Raymond James Financial Inc. downgraded shares of Atlantic Capital Bancshares from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. downgraded shares of Atlantic Capital Bancshares to a “market perform” rating in a research report on Friday, July 29th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Atlantic Capital Bancshares presently has a consensus rating of “Hold” and a consensus price target of $16.00.
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Shares of Atlantic Capital Bancshares (NASDAQ:ACBI) traded up 1.01% during trading on Wednesday, hitting $15.00. 588,574 shares of the stock were exchanged. The stock’s 50 day moving average is $15.15 and its 200-day moving average is $14.60. Atlantic Capital Bancshares has a 12-month low of $11.55 and a 12-month high of $17.50. The stock has a market cap of $372.57 million and a price-to-earnings ratio of 156.25.
Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Thursday, July 28th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Atlantic Capital Bancshares had a return on equity of 4.11% and a net margin of 3.04%. Equities research analysts anticipate that Atlantic Capital Bancshares will post $0.64 EPS for the current year.
In related news, Director Walter M. Deriso, Jr. sold 4,180 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $15.53, for a total transaction of $64,915.40. Following the transaction, the director now directly owns 174,629 shares of the company’s stock, valued at $2,711,988.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas Lloyd Williams sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $14.77, for a total transaction of $66,465.00. Following the transaction, the chief executive officer now directly owns 189,151 shares in the company, valued at $2,793,760.27. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ACBI. Boston Partners increased its position in shares of Atlantic Capital Bancshares by 1.3% in the second quarter. Boston Partners now owns 160,206 shares of the company’s stock worth $2,317,000 after buying an additional 2,090 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Atlantic Capital Bancshares by 21.3% in the first quarter. Geode Capital Management LLC now owns 47,316 shares of the company’s stock worth $659,000 after buying an additional 8,306 shares during the last quarter. American International Group Inc. bought a new position in shares of Atlantic Capital Bancshares during the second quarter worth approximately $144,000. Nationwide Fund Advisors bought a new position in shares of Atlantic Capital Bancshares during the second quarter worth approximately $158,000. Finally, Rhumbline Advisers bought a new position in shares of Atlantic Capital Bancshares during the second quarter worth approximately $244,000. 61.75% 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 full service, locally-managed 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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