Analysts Expect Atlantic Capital Bancshares Inc (ACBI) Will Post Quarterly Sales of $26.57 Million

Brokerages predict that Atlantic Capital Bancshares Inc (NASDAQ:ACBI) will post $26.57 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Atlantic Capital Bancshares’ earnings. The lowest sales estimate is $26.20 million and the highest is $26.80 million. Atlantic Capital Bancshares reported sales of $24.68 million in the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, January 31st.

According to Zacks, analysts expect that Atlantic Capital Bancshares will report full-year sales of $104.02 million for the current financial year, with estimates ranging from $102.00 million to $105.20 million. For the next financial year, analysts forecast that the firm will report sales of $100.75 million, with estimates ranging from $97.36 million to $102.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings results on Thursday, October 25th. The bank reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $25.63 million for the quarter, compared to the consensus estimate of $26.92 million. Atlantic Capital Bancshares had a net margin of 3.55% and a return on equity of 6.95%.

ACBI has been the topic of a number of recent research reports. BidaskClub upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Zacks Investment Research upgraded shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, December 27th. Sandler O’Neill upgraded shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and raised their price target for the company from $16.50 to $20.00 in a report on Monday, November 19th. SunTrust Banks cut their price target on shares of Atlantic Capital Bancshares from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Finally, Raymond James upgraded shares of Atlantic Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Friday, November 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Atlantic Capital Bancshares currently has an average rating of “Buy” and a consensus target price of $19.20.

A number of institutional investors and hedge funds have recently made changes to their positions in ACBI. First Trust Advisors LP increased its position in shares of Atlantic Capital Bancshares by 21.2% during the second quarter. First Trust Advisors LP now owns 66,309 shares of the bank’s stock worth $1,303,000 after acquiring an additional 11,579 shares in the last quarter. Rhumbline Advisers increased its position in shares of Atlantic Capital Bancshares by 25.4% during the second quarter. Rhumbline Advisers now owns 23,695 shares of the bank’s stock worth $466,000 after acquiring an additional 4,795 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Atlantic Capital Bancshares during the second quarter worth $102,000. Russell Investments Group Ltd. increased its position in shares of Atlantic Capital Bancshares by 10.1% during the second quarter. Russell Investments Group Ltd. now owns 227,248 shares of the bank’s stock worth $4,465,000 after acquiring an additional 20,900 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Atlantic Capital Bancshares by 25.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 55,785 shares of the bank’s stock worth $1,097,000 after acquiring an additional 11,400 shares in the last quarter. Hedge funds and other institutional investors own 84.03% of the company’s stock.

Atlantic Capital Bancshares stock opened at $17.86 on Friday. The firm has a market cap of $459.50 million, a PE ratio of 33.70, a price-to-earnings-growth ratio of 0.53 and a beta of 0.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. Atlantic Capital Bancshares has a 1-year low of $14.44 and a 1-year high of $21.60.

About Atlantic Capital Bancshares

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.

Further Reading: What is cost of equity?

Get a free copy of the Zacks research report on Atlantic Capital Bancshares (ACBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Atlantic Capital Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantic Capital Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply