The Zacks Investment Research Upgrades Atlantic Capital Bancshares Inc. (ACBI) to “Hold”

The Zacks Investment Research Upgrades Atlantic Capital Bancshares Inc. (ACBI) to “Hold”

Zacks Investment Research upgraded shares of Atlantic Capital Bancshares Inc. (NASDAQ:ACBI) from a sell rating to a hold rating in a report published on Wednesday.

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. “

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued a buy rating on shares of Atlantic Capital Bancshares in a research note on Sunday, July 31st. Sandler O’Neill lowered shares of Atlantic Capital Bancshares from a buy rating to a hold rating in a research note on Friday, July 29th. Raymond James Financial Inc. lowered shares of Atlantic Capital Bancshares from an outperform rating to a market perform rating in a research note on Friday, July 29th. Finally, Citigroup Inc. lowered shares of Atlantic Capital Bancshares to a market perform rating in a research note on Friday, July 29th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $16.00.

Shares of Atlantic Capital Bancshares (NASDAQ:ACBI) opened at 15.05 on Wednesday. The stock’s 50 day moving average is $15.09 and its 200 day moving average is $14.63. Atlantic Capital Bancshares has a 52 week low of $11.55 and a 52 week high of $17.50. The stock has a market cap of $373.81 million and a price-to-earnings ratio of 156.77.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. Atlantic Capital Bancshares had a net margin of 3.04% and a return on equity of 4.11%. On average, equities analysts forecast that Atlantic Capital Bancshares will post $0.64 EPS for the current year.

In other news, Director Walter M. Deriso, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $14.55, for a total value of $145,500.00. Following the transaction, the director now owns 175,719 shares in the company, valued at $2,556,711.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas Lloyd Williams sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $15.37, for a total transaction of $30,740.00. Following the completion of the transaction, the chief executive officer now owns 188,406 shares in the company, valued at approximately $2,895,800.22. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management Inc. increased its position in shares of Atlantic Capital Bancshares by 21.7% in the first quarter. Kennedy Capital Management Inc. now owns 259,721 shares of the company’s stock valued at $3,621,000 after buying an additional 46,268 shares in the last quarter. Endeavour Capital Advisors Inc. increased its position in shares of Atlantic Capital Bancshares by 5.5% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,267,384 shares of the company’s stock valued at $17,667,000 after buying an additional 66,110 shares in the last quarter. Boston Partners increased its position in shares of Atlantic Capital Bancshares by 1.3% in the second quarter. Boston Partners now owns 160,206 shares of the company’s stock worth $2,317,000 after buying an additional 2,090 shares during the period. Geode Capital Management LLC increased its position in shares of Atlantic Capital Bancshares by 21.3% in the first quarter. Geode Capital Management LLC now owns 47,316 shares of the company’s stock worth $659,000 after buying an additional 8,306 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Atlantic Capital Bancshares during the second quarter worth $995,000. Hedge funds and other institutional investors own 61.76% of the company’s stock.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed 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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