FY2017 EPS Estimates for Atlantic Capital Bancshares, Inc. Cut by Analyst (ACBI)
Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) – Investment analysts at FIG Partners decreased their FY2017 EPS estimates for Atlantic Capital Bancshares in a research note issued to investors on Monday. FIG Partners analyst C. Marinac now expects that the bank will post earnings per share of $0.62 for the year, down from their previous estimate of $0.71. FIG Partners also issued estimates for Atlantic Capital Bancshares’ Q4 2017 earnings at $0.17 EPS and Q2 2018 earnings at $0.20 EPS.
Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its earnings results on Friday, October 27th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $23.77 million during the quarter, compared to analyst estimates of $26.19 million. Atlantic Capital Bancshares had a net margin of 12.34% and a return on equity of 4.44%. ILLEGAL ACTIVITY WARNING: This story was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/11/02/fy2017-eps-estimates-for-atlantic-capital-bancshares-inc-cut-by-analyst-acbi.html.
Several other analysts also recently issued reports on ACBI. Zacks Investment Research upgraded Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub downgraded 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 company a “hold” rating in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in ACBI. Bank of New York Mellon Corp raised its holdings in Atlantic Capital Bancshares by 52.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 838,883 shares of the bank’s stock valued at $15,939,000 after acquiring an additional 290,120 shares in the last quarter. Huber Capital Management LLC acquired a new position in Atlantic Capital Bancshares in the 2nd quarter valued at $3,684,000. Dimensional Fund Advisors LP raised its holdings in Atlantic Capital Bancshares by 93.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 148,753 shares of the bank’s stock valued at $2,826,000 after acquiring an additional 71,675 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new position in Atlantic Capital Bancshares in the 2nd quarter valued at $1,304,000. Finally, State Street Corp raised its holdings in Atlantic Capital Bancshares by 22.8% in the 2nd quarter. State Street Corp now owns 313,395 shares of the bank’s stock valued at $5,958,000 after acquiring an additional 58,222 shares in the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $16.50, for a total value of $51,300,595.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% 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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