Zacks Investment Research upgraded shares of Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. The brokerage currently has $22.00 target price on the bank’s stock.
According to Zacks, “Atlantic Capital Bancshares, Inc. is a bank holding company. The Company’s corporate and business banking services include lending and financing, treasury services and international banking. Its private banking products and services include deposit products such as checking accounts, money market accounts, savings accounts and certificates of deposit; credit products include home equity lines of credit, secured personal lines of credit, unsecured lines of credit, home improvement loans, car loans and credit cards and services include online banking and bill payment, wire transfers, automated teller machine, eDelivery of statements and documents and person-to-person payments. Atlantic Capital Bancshares, Inc. is based in Atlanta, Georgia. “
ACBI has been the topic of several other reports. BidaskClub downgraded Atlantic Capital Bancshares from a hold rating to a sell rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods restated a hold rating and set a $20.00 target price on shares of Atlantic Capital Bancshares in a research note on Friday, June 2nd. Finally, Gabelli assumed coverage on Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They set a buy rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $21.67.
Shares of Atlantic Capital Bancshares (ACBI) opened at 19.20 on Wednesday. The stock has a 50 day moving average price of $18.88 and a 200-day moving average price of $18.87. Atlantic Capital Bancshares has a 1-year low of $13.80 and a 1-year high of $20.20. The stock has a market capitalization of $492.56 million, a PE ratio of 38.32 and a beta of 0.99.
Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $26 million during the quarter, compared to analyst estimates of $25.10 million. Atlantic Capital Bancshares had a return on equity of 4.49% and a net margin of 12.18%. On average, analysts forecast that Atlantic Capital Bancshares will post $0.67 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in ACBI. Legal & General Group Plc increased its position in shares of 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. American International Group Inc. increased its position in shares of 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 increased its position in shares of 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. Nationwide Fund Advisors increased its position in shares of 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. Finally, Texas Capital Bancshares Inc. TX acquired a new position in shares of Atlantic Capital Bancshares during the second quarter valued at $211,000. Hedge funds and other institutional investors own 74.14% 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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