Atlantic Capital Bancshares Inc (ACBI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Atlantic Capital Bancshares Inc (NASDAQ:ACBI) have been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.50.

Several research firms have recently commented on ACBI. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 price target on shares of Atlantic Capital Bancshares in a research note on Wednesday. Zacks Investment Research raised shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 2nd. BidaskClub cut shares of Atlantic Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Gabelli assumed coverage on shares of Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They set a “buy” rating and a $23.00 price target on the stock.

Shares of Atlantic Capital Bancshares (NASDAQ ACBI) remained flat at $18.80 during midday trading on Friday. The company had a trading volume of 95,985 shares. The stock has a market capitalization of $482.45 million, a P/E ratio of 34.18 and a beta of 1.03. The stock has a 50 day moving average of $17.68 and a 200 day moving average of $18.53. Atlantic Capital Bancshares has a 52-week low of $13.80 and a 52-week high of $20.20.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Atlantic Capital Bancshares had a net margin of 16.79% and a return on equity of 5.51%. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $25.10 million. On average, equities research analysts expect that Atlantic Capital Bancshares will post $0.68 EPS for the current year.

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In related news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $16.50, for a total value of $51,300,595.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Atlantic Capital Bancshares by 11.4% in the second quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock valued at $114,000 after buying an additional 611 shares during the period. Principal Financial Group Inc. acquired a new position in Atlantic Capital Bancshares in the second quarter valued at approximately $201,000. American International Group Inc. lifted its holdings in Atlantic Capital Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 10,661 shares of the bank’s stock valued at $202,000 after buying an additional 702 shares during the period. Bank of America Corp DE lifted its holdings in Atlantic Capital Bancshares by 5.8% in the first quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock valued at $206,000 after buying an additional 598 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in Atlantic Capital Bancshares by 1.8% in the first quarter. Nationwide Fund Advisors now owns 11,091 shares of the bank’s stock valued at $210,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 78.34% of the company’s stock.

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.

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