SunTrust Banks Brokers Lower Earnings Estimates for Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI)

Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) – SunTrust Banks decreased their Q3 2018 earnings per share estimates for shares of Atlantic Capital Bancshares in a report released on Monday. SunTrust Banks analyst J. Demba now expects that the bank will post earnings per share of $0.24 for the quarter, down from their previous estimate of $0.25. SunTrust Banks also issued estimates for Atlantic Capital Bancshares’ Q4 2018 earnings at $0.24 EPS.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Atlantic Capital Bancshares from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 28th. Gabelli started coverage on Atlantic Capital Bancshares in a research report on Wednesday, June 14th. They issued a “buy” rating and a $23.00 target price on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 target price on shares of Atlantic Capital Bancshares in a research report on Friday, June 2nd. Finally, BidaskClub downgraded Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.33.

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Shares of Atlantic Capital Bancshares (ACBI) traded up 0.26% during trading on Tuesday, reaching $19.35. The company’s stock had a trading volume of 118,117 shares. The stock has a 50 day moving average of $18.87 and a 200-day moving average of $18.88. Atlantic Capital Bancshares has a 1-year low of $13.80 and a 1-year high of $20.20. The company has a market capitalization of $496.40 million, a PE ratio of 38.62 and a beta of 0.99.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $26 million for the quarter, compared to the consensus estimate of $25.10 million. Atlantic Capital Bancshares had a return on equity of 4.49% and a net margin of 12.18%.

Several large investors have recently bought and sold shares of the stock. American International Group Inc. increased its stake 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 in the last quarter. Bank of America Corp DE increased its stake 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 in the last quarter. Nationwide Fund Advisors increased its stake 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 in the last quarter. Texas Capital Bancshares Inc. TX purchased a new stake in Atlantic Capital Bancshares during the second quarter valued at about $211,000. Finally, Patten Group Inc. increased its stake in Atlantic Capital Bancshares by 3.5% in the first quarter. Patten Group Inc. now owns 12,112 shares of the bank’s stock valued at $229,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 74.14% of the company’s stock.

About Atlantic Capital Bancshares

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.

Earnings History and Estimates for Atlantic Capital Bancshares (NASDAQ:ACBI)

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