Atlantic Capital Bancshares (ACBI) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a hold rating to a buy rating in a research note published on Monday. The brokerage currently has $20.00 price objective 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. “

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A number of other equities analysts have also commented on ACBI. BidaskClub lowered Atlantic Capital Bancshares from a sell rating to a strong sell rating in a report on Tuesday, December 12th. TheStreet raised Atlantic Capital Bancshares from a c rating to a b- rating in a report on Friday, December 22nd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $20.00 price target on shares of Atlantic Capital Bancshares in a report on Monday, January 29th. SunTrust Banks reaffirmed a hold rating and issued a $18.00 price target on shares of Atlantic Capital Bancshares in a report on Monday, January 29th. Finally, Sandler O’Neill set a $18.00 price target on Atlantic Capital Bancshares and gave the stock a hold rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $20.00.

Shares of NASDAQ ACBI opened at $18.95 on Monday. Atlantic Capital Bancshares has a 1-year low of $15.20 and a 1-year high of $19.85. The firm has a market cap of $483.23, a price-to-earnings ratio of 34.72, a PEG ratio of 0.92 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.08). Atlantic Capital Bancshares had a negative net margin of 3.31% and a positive return on equity of 4.33%. The firm had revenue of $24.68 million for the quarter, compared to the consensus estimate of $24.55 million. analysts anticipate that Atlantic Capital Bancshares will post 0.93 earnings per share for the current year.

In related news, insider Richard A. Jr. Oglesby sold 6,719 shares of the stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $17.99, for a total value of $120,874.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurt A. Shreiner sold 2,500 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $17.73, for a total value of $44,325.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of ACBI. Basswood Capital Management L.L.C. raised its position in shares of Atlantic Capital Bancshares by 166.8% in the fourth quarter. Basswood Capital Management L.L.C. now owns 964,313 shares of the bank’s stock worth $16,972,000 after buying an additional 602,824 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Atlantic Capital Bancshares by 47.6% in the third quarter. Bank of New York Mellon Corp now owns 1,237,867 shares of the bank’s stock worth $22,467,000 after buying an additional 398,984 shares in the last quarter. Huber Capital Management LLC raised its position in shares of Atlantic Capital Bancshares by 205.2% in the third quarter. Huber Capital Management LLC now owns 591,775 shares of the bank’s stock worth $10,741,000 after buying an additional 397,879 shares in the last quarter. Jacobs Asset Management LLC purchased a new stake in shares of Atlantic Capital Bancshares in the third quarter worth $6,807,000. Finally, Russell Investments Group Ltd. raised its position in shares of Atlantic Capital Bancshares by 134.5% in the third quarter. Russell Investments Group Ltd. now owns 208,674 shares of the bank’s stock worth $3,787,000 after buying an additional 119,681 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.

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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.

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