Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Expected to Post Quarterly Sales of $25.10 Million

Brokerages expect Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) to post $25.10 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Atlantic Capital Bancshares’ earnings. The highest sales estimate is $25.50 million and the lowest is $24.20 million. Atlantic Capital Bancshares reported sales of $24.28 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The firm is scheduled to announce its next earnings results on Thursday, July 27th.

On average, analysts expect that Atlantic Capital Bancshares will report full year sales of $25.10 million for the current year, with estimates ranging from $96.10 million to $101.60 million. For the next year, analysts expect that the firm will report sales of $111.82 million per share, with estimates ranging from $108.30 million to $116.10 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Friday, April 28th. The bank reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $23.11 million for the quarter, compared to analyst estimates of $24.21 million. Atlantic Capital Bancshares had a net margin of 13.25% and a return on equity of 4.36%.

Several analysts have weighed in on ACBI shares. Zacks Investment Research cut shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price objective on shares of Atlantic Capital Bancshares in a research note on Friday, June 2nd. Finally, Gabelli started coverage on shares of Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They issued a “buy” rating and a $23.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.33.

COPYRIGHT VIOLATION WARNING: This article was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2017/07/29/atlantic-capital-bancshares-inc-nasdaqacbi-expected-to-post-quarterly-sales-of-25-10-million-updated-updated-updated.html.

Several large investors have recently made changes to their positions in ACBI. Tiedemann Wealth Management LLC bought a new stake in shares of Atlantic Capital Bancshares during the first quarter valued at about $495,000. Nicholas Hoffman & Company LLC. bought a new stake in shares of Atlantic Capital Bancshares during the first quarter valued at about $237,000. TD Asset Management Inc. raised its stake in shares of Atlantic Capital Bancshares by 10.2% in the first quarter. TD Asset Management Inc. now owns 22,075 shares of the bank’s stock valued at $418,000 after buying an additional 2,050 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Atlantic Capital Bancshares by 155.0% in the first quarter. Bank of New York Mellon Corp now owns 548,763 shares of the bank’s stock valued at $10,400,000 after buying an additional 333,588 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Atlantic Capital Bancshares by 9.7% in the first quarter. First Trust Advisors LP now owns 46,327 shares of the bank’s stock valued at $878,000 after buying an additional 4,114 shares during the period. 74.04% of the stock is currently owned by institutional investors.

Atlantic Capital Bancshares (NASDAQ:ACBI) traded up 1.32% during mid-day trading on Friday, reaching $19.25. 40,466 shares of the company were exchanged. The stock has a market capitalization of $492.38 million, a price-to-earnings ratio of 35.65 and a beta of 0.99. Atlantic Capital Bancshares has a 12-month low of $13.80 and a 12-month high of $20.20. The company’s 50 day moving average price is $18.83 and its 200-day moving average price is $18.83.

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.

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

Latest News

Leave a Reply