Atlantic Capital Bancshares (NASDAQ:ACBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, “Atlantic Capital Bancshares, Inc. is a bank holding company. The Company’s corporate and business banking services include lending and financing, treasury services and international banking. Its private banking products and services include deposit products such as checking accounts, money market accounts, savings accounts and certificates of deposit; credit products include home equity lines of credit, secured personal lines of credit, unsecured lines of credit, home improvement loans, car loans and credit cards and services include online banking and bill payment, wire transfers, automated teller machine, eDelivery of statements and documents and person-to-person payments. Atlantic Capital Bancshares, Inc. is based in Atlanta, Georgia. “
A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. BidaskClub upgraded Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Atlantic Capital Bancshares has an average rating of “Hold” and a consensus target price of $13.00.
ACBI stock opened at $10.62 on Friday. Atlantic Capital Bancshares has a 52 week low of $8.89 and a 52 week high of $20.21. The business has a 50-day simple moving average of $11.47 and a 200 day simple moving average of $11.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.30. The company has a market cap of $229.45 million, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.46 and a beta of 1.06.
Atlantic Capital Bancshares (NASDAQ:ACBI) last released its earnings results on Thursday, July 23rd. The bank reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). The firm had revenue of $24.33 million during the quarter, compared to the consensus estimate of $23.45 million. Atlantic Capital Bancshares had a net margin of 16.94% and a return on equity of 5.65%. On average, analysts anticipate that Atlantic Capital Bancshares will post 0.75 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its stake in shares of Atlantic Capital Bancshares by 46.2% in the 1st quarter. Citigroup Inc. now owns 6,776 shares of the bank’s stock worth $80,000 after buying an additional 2,140 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Atlantic Capital Bancshares by 1.4% in the first quarter. Gamco Investors INC. ET AL now owns 169,955 shares of the bank’s stock worth $2,017,000 after purchasing an additional 2,283 shares during the last quarter. Two Sigma Advisers LP grew its stake in Atlantic Capital Bancshares by 2.7% in the 1st quarter. Two Sigma Advisers LP now owns 91,700 shares of the bank’s stock valued at $1,088,000 after purchasing an additional 2,400 shares during the period. Alliancebernstein L.P. increased its position in shares of Atlantic Capital Bancshares by 11.6% during the 1st quarter. Alliancebernstein L.P. now owns 24,100 shares of the bank’s stock valued at $286,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in shares of Atlantic Capital Bancshares by 0.9% during the 1st quarter. Teton Advisors Inc. now owns 351,658 shares of the bank’s stock valued at $4,174,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 84.28% 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.
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