Atlantic Capital Bancshares Inc (ACBI) Given Consensus Recommendation of “Hold” by Brokerages

Atlantic Capital Bancshares Inc (NASDAQ:ACBI) has been given an average rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $21.50.

A number of analysts recently issued reports on ACBI shares. BidaskClub raised Atlantic Capital Bancshares from a “strong sell” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 price objective on shares of Atlantic Capital Bancshares in a report on Wednesday, October 4th. Finally, Zacks Investment Research cut Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd.

In related news, COO D Michael Kramer sold 14,500 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $17.19, for a total transaction of $249,255.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACBI. Patten Group Inc. increased its position in shares of Atlantic Capital Bancshares by 305.5% during the 3rd quarter. Patten Group Inc. now owns 51,304 shares of the bank’s stock valued at $239,000 after purchasing an additional 38,653 shares during the last quarter. Jacobs Asset Management LLC bought a new position in Atlantic Capital Bancshares during the 3rd quarter worth approximately $6,807,000. Maltese Capital Management LLC bought a new position in Atlantic Capital Bancshares during the 3rd quarter worth approximately $373,000. Prospector Partners LLC grew its position in Atlantic Capital Bancshares by 10.0% during the 3rd quarter. Prospector Partners LLC now owns 120,608 shares of the bank’s stock worth $2,189,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Synovus Financial Corp grew its position in Atlantic Capital Bancshares by 12.2% during the 3rd quarter. Synovus Financial Corp now owns 115,843 shares of the bank’s stock worth $2,103,000 after acquiring an additional 12,555 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Atlantic Capital Bancshares (ACBI) traded up $0.25 during mid-day trading on Friday, reaching $17.55. The company’s stock had a trading volume of 89,000 shares, compared to its average volume of 86,267. Atlantic Capital Bancshares has a twelve month low of $15.20 and a twelve month high of $20.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $451.53 and a PE ratio of 31.45.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Atlantic Capital Bancshares had a net margin of 12.34% and a return on equity of 4.39%. The firm had revenue of $23.77 million for the quarter, compared to analysts’ expectations of $26.19 million. equities research analysts forecast that Atlantic Capital Bancshares will post 0.61 earnings per share for the current year.

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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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