First Trust Advisors LP increased its position in shares of Atlantic Capital Bancshares Inc (NASDAQ:ACBI) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,411 shares of the bank’s stock after purchasing an additional 11,102 shares during the period. First Trust Advisors LP owned 0.30% of Atlantic Capital Bancshares worth $1,297,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Atlantic Capital Bancshares by 26.1% in the second quarter. BlackRock Inc. now owns 1,350,628 shares of the bank’s stock valued at $26,540,000 after acquiring an additional 279,444 shares in the last quarter. Comerica Bank acquired a new position in Atlantic Capital Bancshares in the second quarter valued at $3,516,000. Dimensional Fund Advisors LP boosted its stake in Atlantic Capital Bancshares by 26.0% in the second quarter. Dimensional Fund Advisors LP now owns 527,670 shares of the bank’s stock valued at $10,369,000 after acquiring an additional 108,720 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Atlantic Capital Bancshares by 48.4% in the second quarter. Renaissance Technologies LLC now owns 315,400 shares of the bank’s stock valued at $6,198,000 after acquiring an additional 102,800 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in Atlantic Capital Bancshares in the second quarter valued at $1,616,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.
Several research firms have issued reports on ACBI. Sandler O’Neill upgraded shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and upped their price objective for the company from $16.50 to $20.00 in a research note on Monday, November 19th. Raymond James upgraded shares of Atlantic Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, November 16th. ValuEngine upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Keefe, Bruyette & Woods upgraded shares of Atlantic Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Thursday, November 15th. Finally, BidaskClub upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Atlantic Capital Bancshares currently has an average rating of “Buy” and an average price target of $19.40.
Shares of ACBI opened at $17.46 on Friday. Atlantic Capital Bancshares Inc has a fifty-two week low of $14.44 and a fifty-two week high of $21.60. The stock has a market cap of $451.67 million, a PE ratio of 32.94, a price-to-earnings-growth ratio of 0.67 and a beta of 0.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.92 and a quick ratio of 0.92.
Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its earnings results on Thursday, October 25th. The bank reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Atlantic Capital Bancshares had a return on equity of 6.95% and a net margin of 3.55%. The business had revenue of $25.63 million for the quarter, compared to analyst estimates of $26.92 million. On average, sell-side analysts anticipate that Atlantic Capital Bancshares Inc will post 1 EPS for the current year.
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Atlantic Capital Bancshares Profile
Atlantic Capital Bancshares, Inc operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, money market, savings, checking, time, Internet and brokered, and demand deposits; working capital and equipment loans, loans supported by owner-occupied real estate, revolving lines of credit, term loans, letters of credit, installment and term loans, and home equity lines of credit; residential mortgage loans; and commercial real estate loans, including secured construction loans, secured mini-permanent loans, and secured or unsecured lines of credit.
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