Atlantic Capital (ACBI) Downgraded by BidaskClub

BidaskClub cut shares of Atlantic Capital (NASDAQ:ACBI) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Several other analysts also recently issued reports on ACBI. Zacks Investment Research downgraded shares of Atlantic Capital from a buy rating to a hold rating in a research report on Monday, March 5th. Sandler O’Neill set a $19.00 price target on shares of Atlantic Capital and gave the company a hold rating in a research report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $19.50.

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Shares of ACBI stock opened at $19.85 on Friday. The company has a market cap of $511.63 million, a PE ratio of 37.26 and a beta of 0.73. Atlantic Capital has a 52 week low of $15.20 and a 52 week high of $21.60. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.96.

Atlantic Capital (NASDAQ:ACBI) last announced its quarterly earnings data on Thursday, April 26th. The bank reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $25.60 million during the quarter, compared to the consensus estimate of $24.97 million. Atlantic Capital had a negative net margin of 1.65% and a positive return on equity of 4.92%. sell-side analysts expect that Atlantic Capital will post 0.98 earnings per share for the current fiscal year.

In other Atlantic Capital news, Director James H. Graves sold 16,000 shares of Atlantic Capital stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $20.93, for a total transaction of $334,880.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt A. Shreiner sold 2,500 shares of Atlantic Capital stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $19.42, for a total transaction of $48,550.00. The disclosure for this sale can be found here. In the last three months, insiders sold 23,420 shares of company stock valued at $487,452. 3.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL boosted its holdings in Atlantic Capital by 21.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 97,845 shares of the bank’s stock worth $1,771,000 after acquiring an additional 17,365 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Atlantic Capital during the 4th quarter worth $574,000. Two Sigma Advisers LP boosted its holdings in Atlantic Capital by 30.8% during the 4th quarter. Two Sigma Advisers LP now owns 64,900 shares of the bank’s stock worth $1,142,000 after acquiring an additional 15,300 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Atlantic Capital by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,392,698 shares of the bank’s stock worth $24,511,000 after acquiring an additional 154,831 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new position in Atlantic Capital during the 1st quarter worth $542,000. 81.20% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Capital 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.