Atlantic Capital Bancshares Inc (ACBI) Expected to Post Earnings of $0.26 Per Share

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Wall Street brokerages expect Atlantic Capital Bancshares Inc (NASDAQ:ACBI) to announce earnings of $0.26 per share for the current quarter, Zacks reports. Three analysts have made estimates for Atlantic Capital Bancshares’ earnings. The highest EPS estimate is $0.27 and the lowest is $0.25. Atlantic Capital Bancshares reported earnings of $0.16 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 62.5%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Atlantic Capital Bancshares will report full year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.90 to $1.06. For the next financial year, analysts forecast that the company will post earnings of $1.12 per share, with EPS estimates ranging from $1.10 to $1.15. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. Atlantic Capital Bancshares had a net margin of 1.60% and a return on equity of 6.14%. The company had revenue of $27.35 million during the quarter, compared to analysts’ expectations of $26.47 million.

Several equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. TheStreet cut shares of Atlantic Capital Bancshares from a “b” rating to a “c+” rating in a report on Thursday, August 30th. Zacks Investment Research cut shares of Atlantic Capital Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. ValuEngine cut shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Atlantic Capital Bancshares in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.00.

Shares of ACBI traded down $0.13 during trading hours on Monday, hitting $15.75. 110,943 shares of the stock were exchanged, compared to its average volume of 92,177. Atlantic Capital Bancshares has a fifty-two week low of $15.20 and a fifty-two week high of $21.60. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. The stock has a market cap of $437.24 million, a PE ratio of 29.72 and a beta of 0.60.

In other Atlantic Capital Bancshares news, insider Kurt A. Shreiner sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $17.93, for a total value of $44,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.40% of the company’s stock.

A number of large investors have recently bought and sold shares of ACBI. BlackRock Inc. grew its holdings in Atlantic Capital Bancshares by 26.1% in the second quarter. BlackRock Inc. now owns 1,350,628 shares of the bank’s stock worth $26,540,000 after purchasing an additional 279,444 shares during the period. Millennium Management LLC grew its holdings in Atlantic Capital Bancshares by 80.0% in the first quarter. Millennium Management LLC now owns 566,838 shares of the bank’s stock worth $10,260,000 after purchasing an additional 251,861 shares during the period. Comerica Bank acquired a new stake in Atlantic Capital Bancshares in the second quarter worth $3,516,000. Dimensional Fund Advisors LP grew its holdings in Atlantic Capital Bancshares by 26.0% in the second quarter. Dimensional Fund Advisors LP now owns 527,670 shares of the bank’s stock worth $10,369,000 after purchasing an additional 108,720 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Atlantic Capital Bancshares by 48.4% in the second quarter. Renaissance Technologies LLC now owns 315,400 shares of the bank’s stock worth $6,198,000 after purchasing an additional 102,800 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Atlantic Capital Bancshares Company Profile

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.

See Also: Intrinsic Value

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Earnings History and Estimates for Atlantic Capital Bancshares (NASDAQ:ACBI)

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