Analysts Anticipate Atlantic Capital Bancshares Inc (ACBI) Will Announce Quarterly Sales of $23.28 Million

Wall Street brokerages expect that Atlantic Capital Bancshares Inc (NASDAQ:ACBI) will announce sales of $23.28 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Atlantic Capital Bancshares’ earnings. The lowest sales estimate is $22.90 million and the highest is $23.66 million. Atlantic Capital Bancshares posted sales of $25.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.1%. The firm is scheduled to announce its next earnings results on Thursday, April 25th.

On average, analysts expect that Atlantic Capital Bancshares will report full-year sales of $107.45 million for the current financial year, with estimates ranging from $92.00 million to $122.90 million. For the next fiscal year, analysts expect that the company will post sales of $101.45 million, with estimates ranging from $97.00 million to $105.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its earnings results on Thursday, January 31st. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $21.23 million during the quarter, compared to analyst estimates of $26.57 million. Atlantic Capital Bancshares had a net margin of 23.56% and a return on equity of 8.76%.

Several equities analysts have commented on the stock. BidaskClub downgraded shares of Atlantic Capital Bancshares from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating and set a $21.00 target price on the stock in a research report on Friday, February 1st. TheStreet raised Atlantic Capital Bancshares from a “c+” rating to a “b-” rating in a report on Wednesday, January 16th. Sandler O’Neill raised Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.50 to $20.00 in a research report on Monday, November 19th. Finally, Raymond James raised shares of Atlantic Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, November 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.80.

Shares of ACBI stock remained flat at $$19.28 during midday trading on Tuesday. The company’s stock had a trading volume of 71,993 shares, compared to its average volume of 103,883. The stock has a market cap of $511.72 million, a P/E ratio of 17.85, a P/E/G ratio of 0.56 and a beta of 1.00. Atlantic Capital Bancshares has a one year low of $14.44 and a one year high of $21.60. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.41.

Several large investors have recently bought and sold shares of ACBI. Northern Trust Corp grew its position in shares of Atlantic Capital Bancshares by 29.1% in the second quarter. Northern Trust Corp now owns 300,794 shares of the bank’s stock valued at $5,909,000 after purchasing an additional 67,713 shares during the last quarter. First Trust Advisors LP increased its position in shares of Atlantic Capital Bancshares by 16.7% during the third quarter. First Trust Advisors LP now owns 77,411 shares of the bank’s stock worth $1,297,000 after buying an additional 11,102 shares during the period. Creative Planning lifted its stake in shares of Atlantic Capital Bancshares by 100.0% in the third quarter. Creative Planning now owns 20,000 shares of the bank’s stock valued at $335,000 after buying an additional 10,000 shares in the last quarter. Synovus Financial Corp raised its position in Atlantic Capital Bancshares by 138.5% in the third quarter. Synovus Financial Corp now owns 220,307 shares of the bank’s stock worth $3,691,000 after acquiring an additional 127,949 shares during the period. Finally, Monarch Partners Asset Management LLC grew its stake in Atlantic Capital Bancshares by 14.9% during the third quarter. Monarch Partners Asset Management LLC now owns 35,000 shares of the bank’s stock valued at $586,000 after acquiring an additional 4,540 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, money market, savings, checking, time, Internet and brokered, and demand deposits; working capital and equipment loans, loans supported by owner-occupied real estate, revolving lines of credit, term loans, letters of credit, installment and term loans, and home equity lines of credit; residential mortgage loans; and commercial real estate loans, including secured construction loans, secured mini-permanent loans, and secured or unsecured lines of credit.

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