Zacks: Analysts Anticipate Atlantic Capital Bancshares Inc (ACBI) Will Post Quarterly Sales of $24.94 Million

Equities research analysts expect that Atlantic Capital Bancshares Inc (NASDAQ:ACBI) will post sales of $24.94 million for the current quarter, according to Zacks. Three analysts have issued estimates for Atlantic Capital Bancshares’ earnings, with the highest sales estimate coming in at $25.70 million and the lowest estimate coming in at $24.30 million. Atlantic Capital Bancshares reported sales of $23.11 million during the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The firm is scheduled to announce its next quarterly earnings report on Friday, April 27th.

According to Zacks, analysts expect that Atlantic Capital Bancshares will report full-year sales of $24.94 million for the current financial year, with estimates ranging from $101.20 million to $108.30 million. For the next fiscal year, analysts expect that the firm will post sales of $111.77 million per share, with estimates ranging from $109.70 million to $117.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.08). Atlantic Capital Bancshares had a positive return on equity of 4.29% and a negative net margin of 3.31%. The company had revenue of $24.68 million during the quarter, compared to the consensus estimate of $24.55 million.

A number of equities analysts recently issued reports on ACBI shares. TheStreet raised shares of Atlantic Capital Bancshares from a “c” rating to a “b-” rating in a research note on Friday, December 22nd. BidaskClub raised shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday. Sandler O’Neill set a $18.00 price target on shares of Atlantic Capital Bancshares and gave the stock a “hold” rating in a research note on Monday, January 29th. SunTrust Banks reissued a “hold” rating and issued a $18.00 price target on shares of Atlantic Capital Bancshares in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price target on shares of Atlantic Capital Bancshares in a research note on Monday, January 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.80.

In other Atlantic Capital Bancshares news, COO D Michael Kramer sold 14,500 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ACBI. Legal & General Group Plc grew its holdings in shares of 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 during 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. Nationwide Fund Advisors grew its holdings 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 buying an additional 1,839 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in shares of Atlantic Capital Bancshares during the second quarter valued at approximately $262,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Atlantic Capital Bancshares (NASDAQ ACBI) opened at $17.05 on Monday. Atlantic Capital Bancshares has a one year low of $15.20 and a one year high of $19.85. The stock has a market cap of $438.40, a PE ratio of -131.15, a P/E/G ratio of 0.85 and a beta of 0.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.54.

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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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Earnings History and Estimates for Atlantic Capital Bancshares (NASDAQ:ACBI)

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