Atlantic Capital Bancshares (NASDAQ:ACBI) Downgraded by BidaskClub

BidaskClub cut shares of Atlantic Capital Bancshares (NASDAQ:ACBI) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

ACBI has been the subject of several other research reports. Raymond James downgraded shares of Atlantic Capital Bancshares from an outperform rating to a market perform rating in a report on Monday, April 29th. Gabelli reaffirmed a buy rating on shares of Atlantic Capital Bancshares in a report on Monday, July 29th. Finally, Zacks Investment Research downgraded shares of Atlantic Capital Bancshares from a buy rating to a hold rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $19.40.

Shares of Atlantic Capital Bancshares stock opened at $17.56 on Wednesday. The company has a market capitalization of $395.35 million, a P/E ratio of 16.26, a P/E/G ratio of 1.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.98. The company has a fifty day moving average of $17.50 and a 200 day moving average of $17.85. Atlantic Capital Bancshares has a fifty-two week low of $14.44 and a fifty-two week high of $19.79.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its earnings results on Thursday, July 25th. The bank reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $22.92 million during the quarter, compared to the consensus estimate of $50.00 million. Atlantic Capital Bancshares had a net margin of 42.79% and a return on equity of 8.56%. Analysts forecast that Atlantic Capital Bancshares will post 1.12 EPS for the current year.

In related news, Director R Charles Shufeldt purchased 2,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $16.88 per share, for a total transaction of $33,760.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC lifted its stake in Atlantic Capital Bancshares by 0.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 186,645 shares of the bank’s stock worth $3,195,000 after purchasing an additional 730 shares in the last quarter. Legal & General Group Plc lifted its stake in Atlantic Capital Bancshares by 22.1% in the 4th quarter. Legal & General Group Plc now owns 4,655 shares of the bank’s stock worth $76,000 after purchasing an additional 842 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Atlantic Capital Bancshares in the 1st quarter worth $25,000. Macquarie Group Ltd. purchased a new stake in Atlantic Capital Bancshares in the 4th quarter worth $28,000. Finally, Panagora Asset Management Inc. purchased a new stake in Atlantic Capital Bancshares in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 85.45% of the company’s stock.

Atlantic Capital Bancshares Company Profile

Atlantic Capital Bancshares, Inc operates as the bank holding company for Atlantic Capital Bank, N.A. that provides banking products and services in the Metropolitan Atlanta and rest of the United States. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits; and NOW accounts.

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Analyst Recommendations for Atlantic Capital Bancshares (NASDAQ:ACBI)

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