Atlantic Capital Bancshares (NASDAQ:ACBI) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

ACBI has been the topic of several other reports. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a strong-buy rating to a hold rating in a research report on Monday, April 8th. Raymond James downgraded shares of Atlantic Capital Bancshares from an outperform rating to a market perform rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $19.80.

Shares of Atlantic Capital Bancshares stock traded up $0.12 during trading on Thursday, reaching $17.24. The company had a trading volume of 90,200 shares, compared to its average volume of 73,441. The firm has a market cap of $412.67 million, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.95. Atlantic Capital Bancshares has a fifty-two week low of $14.44 and a fifty-two week high of $21.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.92.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). The business had revenue of $22.76 million for the quarter, compared to analyst estimates of $23.20 million. Atlantic Capital Bancshares had a return on equity of 9.05% and a net margin of 24.14%. On average, equities analysts predict that Atlantic Capital Bancshares will post 1.13 earnings per share for the current year.

In related news, Director R Charles Shufeldt purchased 2,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was acquired at an average cost of $16.88 per share, for a total transaction of $33,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. SEI Investments Co grew its holdings in shares of Atlantic Capital Bancshares by 614.6% in the first quarter. SEI Investments Co now owns 13,864 shares of the bank’s stock worth $247,000 after purchasing an additional 11,924 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Atlantic Capital Bancshares by 226.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 127,495 shares of the bank’s stock valued at $2,273,000 after purchasing an additional 88,383 shares during the period. Geode Capital Management LLC grew its stake in shares of Atlantic Capital Bancshares by 9.2% during the 1st quarter. Geode Capital Management LLC now owns 323,945 shares of the bank’s stock valued at $5,775,000 after acquiring an additional 27,318 shares during the period. Renaissance Technologies LLC boosted its stake in Atlantic Capital Bancshares by 38.4% in the 1st quarter. Renaissance Technologies LLC now owns 324,708 shares of the bank’s stock worth $5,790,000 after purchasing an additional 90,100 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Atlantic Capital Bancshares by 54.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 183,763 shares of the bank’s stock worth $3,276,000 after acquiring an additional 65,037 shares in the last quarter. Institutional investors own 86.08% of the company’s stock.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc operates as the bank holding company for Atlantic Capital Bank, N.A. that provides banking products and services in the Metropolitan Atlanta and rest of the United States. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits; and NOW accounts.

Further Reading: Equal Weight Rating

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