Atlantic Capital (NASDAQ:ACBI) insider Gary G. Fleming, Jr. sold 2,420 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $20.98, for a total value of $50,771.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
ACBI stock traded down $0.10 during midday trading on Thursday, reaching $20.90. 76,308 shares of the company’s stock traded hands, compared to its average volume of 100,291. Atlantic Capital has a 1-year low of $15.20 and a 1-year high of $21.60. The stock has a market capitalization of $542.88 million, a price-to-earnings ratio of 39.34 and a beta of 0.71. 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 released its quarterly earnings results on Thursday, April 26th. The bank reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Atlantic Capital had a positive return on equity of 4.92% and a negative net margin of 1.65%. The firm had revenue of $25.60 million during the quarter, compared to analysts’ expectations of $24.97 million. equities analysts expect that Atlantic Capital will post 0.98 earnings per share for the current fiscal year.
Several research firms recently commented on ACBI. Zacks Investment Research downgraded Atlantic Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub raised Atlantic Capital from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 4th. Finally, Sandler O’Neill set a $19.00 price target on Atlantic Capital and gave the company a “hold” rating in a report on Wednesday, March 28th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.20.
A number of hedge funds have recently added to or reduced their stakes in ACBI. Schwab Charles Investment Management Inc. increased its stake 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 valued at $782,000 after buying an additional 7,985 shares during the period. Victory Capital Management Inc. increased its stake 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 valued at $1,135,000 after buying an additional 4,788 shares during the period. Wells Fargo & Company MN increased its stake in shares of Atlantic Capital by 76.2% in the 4th quarter. Wells Fargo & Company MN now owns 35,286 shares of the bank’s stock valued at $621,000 after buying an additional 15,258 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Atlantic Capital by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,392,698 shares of the bank’s stock valued at $24,511,000 after buying an additional 154,831 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Atlantic Capital by 1.8% in the 4th quarter. BlackRock Inc. now owns 1,078,640 shares of the bank’s stock valued at $18,983,000 after buying an additional 18,692 shares during the period. 81.30% of the stock is 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.
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