Atlantic Capital Bancshares (ACBI) Cut to “Strong Sell” at BidaskClub

Atlantic Capital Bancshares (NASDAQ:ACBI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other research analysts have also recently weighed in on the stock. TheStreet raised shares of Atlantic Capital Bancshares from a “c” rating to a “b-” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price target on shares of Atlantic Capital Bancshares in a research report on Wednesday, October 4th. Finally, Zacks Investment Research cut shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.00.

Atlantic Capital Bancshares (NASDAQ ACBI) traded up $0.05 on Friday, hitting $17.75. 65,756 shares of the company traded hands, compared to its average volume of 83,521. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.94 and a quick ratio of 0.94. Atlantic Capital Bancshares has a twelve month low of $15.20 and a twelve month high of $20.20. The firm has a market capitalization of $456.67, a PE ratio of 32.27, a PEG ratio of 0.92 and a beta of 0.94.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Friday, October 27th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). Atlantic Capital Bancshares had a return on equity of 4.39% and a net margin of 12.34%. The company had revenue of $23.77 million during the quarter, compared to analyst estimates of $26.19 million. research analysts expect that Atlantic Capital Bancshares will post 0.61 earnings per share for the current year.

In other Atlantic Capital Bancshares news, COO D Michael Kramer sold 14,500 shares of Atlantic Capital Bancshares stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $17.19, for a total transaction of $249,255.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Atlantic Capital Bancshares by 11.4% during the second quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock valued at $114,000 after buying an additional 611 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Atlantic Capital Bancshares during the third quarter valued at approximately $133,000. Principal Financial Group Inc. purchased a new stake in shares of Atlantic Capital Bancshares during the second quarter valued at approximately $201,000. Patten Group Inc. raised its stake in shares of Atlantic Capital Bancshares by 305.5% during the third quarter. Patten Group Inc. now owns 51,304 shares of the bank’s stock valued at $239,000 after purchasing an additional 38,653 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Atlantic Capital Bancshares by 16.6% during the second quarter. Nationwide Fund Advisors now owns 12,930 shares of the bank’s stock valued at $246,000 after purchasing an additional 1,839 shares during the period. 79.09% of the stock is currently owned by hedge funds and other institutional investors.

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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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