Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) announced its quarterly earnings results on Friday. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03), MarketWatch Earnings reports. Atlantic Capital Bancshares had a net margin of 12.18% and a return on equity of 4.45%. The company had revenue of $23.77 million for the quarter, compared to analysts’ expectations of $26.19 million.
Atlantic Capital Bancshares (NASDAQ:ACBI) traded down 1.15% during midday trading on Friday, reaching $17.25. 111,183 shares of the company traded hands. The company has a 50 day moving average price of $17.98 and a 200-day moving average price of $18.48. The stock has a market capitalization of $442.65 million, a P/E ratio of 34.43 and a beta of 1.03. Atlantic Capital Bancshares has a one year low of $14.25 and a one year high of $20.20.
In other Atlantic Capital Bancshares news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the firm’s stock in a transaction dated 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 available at the SEC website. Company insiders own 3.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Atlantic Capital Bancshares by 11.4% in the 2nd quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock worth $114,000 after buying an additional 611 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Atlantic Capital Bancshares in the 2nd quarter worth approximately $201,000. American International Group Inc. grew its position in shares of Atlantic Capital Bancshares by 7.0% in the 1st quarter. American International Group Inc. now owns 10,661 shares of the bank’s stock worth $202,000 after buying an additional 702 shares during the last quarter. Bank of America Corp DE grew its position in shares of Atlantic Capital Bancshares by 5.8% in the 1st quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock worth $206,000 after buying an additional 598 shares during the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of Atlantic Capital Bancshares by 1.8% in the 1st quarter. Nationwide Fund Advisors now owns 11,091 shares of the bank’s stock worth $210,000 after buying an additional 193 shares during the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
ACBI has been the topic of several research reports. Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Keefe, Bruyette & Woods set a $20.00 price objective on shares of Atlantic Capital Bancshares and gave the stock a “hold” rating in a research note on Friday, August 18th. Finally, BidaskClub lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $21.67.
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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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