Atlantic Capital Bancshares (ACBI) Downgraded to “Market Perform” at Raymond James

Atlantic Capital Bancshares (NASDAQ:ACBI) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Monday, The Fly reports.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, April 8th. Finally, TheStreet raised shares of Atlantic Capital Bancshares from a “c+” rating to a “b-” rating in a report on Wednesday, January 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Atlantic Capital Bancshares has an average rating of “Hold” and a consensus target price of $19.80.

NASDAQ:ACBI opened at $17.70 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $437.90 million, a PE ratio of 16.39, a PEG ratio of 0.50 and a beta of 1.00. Atlantic Capital Bancshares has a 1-year low of $14.44 and a 1-year high of $21.60.

Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its earnings results on Thursday, April 25th. The bank reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). The firm had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $23.20 million. Atlantic Capital Bancshares had a net margin of 24.14% and a return on equity of 9.05%. Analysts expect that Atlantic Capital Bancshares will post 1.37 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ACBI. Wells Fargo & Company MN increased its position in Atlantic Capital Bancshares by 20.2% during the 3rd quarter. Wells Fargo & Company MN now owns 43,655 shares of the bank’s stock worth $730,000 after purchasing an additional 7,330 shares in the last quarter. JPMorgan Chase & Co. increased its position in Atlantic Capital Bancshares by 183.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,499 shares of the bank’s stock worth $410,000 after purchasing an additional 15,844 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Atlantic Capital Bancshares by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,497,122 shares of the bank’s stock worth $25,076,000 after buying an additional 7,437 shares during the last quarter. BlackRock Inc. boosted its stake in Atlantic Capital Bancshares by 2.3% in the 3rd quarter. BlackRock Inc. now owns 1,381,150 shares of the bank’s stock worth $23,134,000 after buying an additional 30,522 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Atlantic Capital Bancshares by 16.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 613,972 shares of the bank’s stock worth $10,284,000 after buying an additional 86,302 shares during the last quarter. 86.24% of the stock is owned by institutional investors.

Atlantic Capital Bancshares Company Profile

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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