BlackRock Inc. lifted its holdings in Atlantic Capital (NASDAQ:ACBI) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,078,640 shares of the bank’s stock after acquiring an additional 18,692 shares during the period. BlackRock Inc. owned approximately 4.20% of Atlantic Capital worth $18,983,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of ACBI. SG Americas Securities LLC bought a new position in shares of Atlantic Capital in the 3rd quarter worth about $133,000. Wells Fargo & Company MN raised its position in shares of Atlantic Capital by 70.8% in the 3rd quarter. Wells Fargo & Company MN now owns 20,028 shares of the bank’s stock worth $363,000 after acquiring an additional 8,301 shares in the last quarter. Stifel Financial Corp raised its position in shares of Atlantic Capital by 77.8% in the 3rd quarter. Stifel Financial Corp now owns 32,828 shares of the bank’s stock worth $596,000 after acquiring an additional 14,362 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Atlantic Capital by 21.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 44,385 shares of the bank’s stock worth $782,000 after acquiring an additional 7,985 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Atlantic Capital by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 64,488 shares of the bank’s stock worth $1,135,000 after acquiring an additional 4,788 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.
ACBI has been the subject of several research reports. Zacks Investment Research downgraded Atlantic Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. BidaskClub upgraded Atlantic Capital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 4th. TheStreet upgraded Atlantic Capital from a “c” rating to a “b-” rating in a research note on Friday, December 22nd. Sandler O’Neill set a $18.00 target price on Atlantic Capital and gave the company a “hold” rating in a research note on Monday, January 29th. Finally, SunTrust Banks restated a “hold” rating and issued a $18.00 target price on shares of Atlantic Capital in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.20.
Shares of ACBI opened at $19.00 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $487.10, a PE ratio of 35.85 and a beta of 0.67. Atlantic Capital has a one year low of $15.20 and a one year high of $19.85.
Atlantic Capital (NASDAQ:ACBI) last issued its earnings results on Monday, January 29th. The bank reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.08). The firm had revenue of $24.68 million during the quarter, compared to analyst estimates of $24.55 million. Atlantic Capital had a negative net margin of 3.31% and a positive return on equity of 4.33%. sell-side analysts forecast that Atlantic Capital will post 0.93 earnings per share for the current fiscal year.
In other Atlantic Capital news, insider Richard A. Jr. Oglesby sold 6,719 shares of Atlantic Capital stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $17.99, for a total transaction of $120,874.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt A. Shreiner sold 2,500 shares of Atlantic Capital stock in a transaction dated Monday, March 5th. The shares were 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. 3.40% of the stock is currently owned by insiders.
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Atlantic Capital 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.
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