Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) announced its quarterly earnings results on Friday, October 27th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03), MarketWatch Earnings reports. The firm had revenue of $23.77 million during the quarter, compared to the consensus estimate of $26.19 million. Atlantic Capital Bancshares had a return on equity of 4.39% and a net margin of 12.34%.
Atlantic Capital Bancshares (ACBI) opened at $16.47 on Monday. The firm has a market cap of $423.87, a price-to-earnings ratio of 29.95, a P/E/G ratio of 1.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 0.94. Atlantic Capital Bancshares has a 12-month low of $15.20 and a 12-month high of $20.20.
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ACBI has been the subject of a number of recent research reports. BidaskClub lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods set a $20.00 target price on shares of Atlantic Capital Bancshares and gave the company a “hold” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.67.
In related news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $16.50, for a total transaction of $51,300,595.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. 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 valued at $363,000 after acquiring an additional 8,301 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Atlantic Capital Bancshares in the third quarter valued at $699,000. Stieven Capital Advisors L.P. purchased a new stake in shares of Atlantic Capital Bancshares in the third quarter valued at $3,171,000. TD Asset Management Inc. raised its stake in shares of Atlantic Capital Bancshares by 11.9% in the third quarter. TD Asset Management Inc. now owns 37,675 shares of the bank’s stock valued at $684,000 after acquiring an additional 4,000 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Atlantic Capital Bancshares in the third quarter valued at $133,000. 68.97% of the stock is currently owned by institutional investors and hedge funds.
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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