Atlantic Capital Bancshares (ACBI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a buy rating to a hold rating in a report published on Tuesday.

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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Several other research firms also recently commented on ACBI. Sandler O’Neill set a $19.00 target price on Atlantic Capital Bancshares and gave the stock a hold rating in a report on Wednesday, March 28th. BidaskClub raised Atlantic Capital Bancshares from a strong sell rating to a sell rating in a report on Friday, February 2nd. TheStreet raised Atlantic Capital Bancshares from a c rating to a b- rating in a report on Friday, December 22nd. Finally, FIG Partners raised Atlantic Capital Bancshares from a market perform rating to an outperform rating in a report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $20.00.

NASDAQ ACBI opened at $18.75 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92. Atlantic Capital Bancshares has a twelve month low of $15.20 and a twelve month high of $19.85. The company has a market cap of $488.39, a P/E ratio of 35.09, a PEG ratio of 0.93 and a beta of 0.68.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ 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. research analysts predict that Atlantic Capital Bancshares will post 0.93 EPS for the current fiscal year.

In other news, insider Kurt A. Shreiner sold 2,500 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Jr. Oglesby sold 6,719 shares of the business’s 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 disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of ACBI. SG Americas Securities LLC purchased a new position in shares of Atlantic Capital Bancshares in the third quarter worth $133,000. MetLife Investment Advisors LLC purchased a new position in shares of Atlantic Capital Bancshares in the fourth quarter worth $184,000. Patten Group Inc. raised its stake in shares of Atlantic Capital Bancshares by 305.5% in the third quarter. Patten Group Inc. now owns 51,304 shares of the bank’s stock worth $239,000 after purchasing an additional 38,653 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Atlantic Capital Bancshares by 70.8% in the third quarter. Wells Fargo & Company MN now owns 20,028 shares of the bank’s stock worth $363,000 after purchasing an additional 8,301 shares during the last quarter. Finally, Maltese Capital Management LLC purchased a new position in shares of Atlantic Capital Bancshares in the third quarter worth $373,000. Hedge funds and other 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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