Stifel Financial Corp raised its position in Atlantic Capital (NASDAQ:ACBI) by 68.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 72,332 shares of the bank’s stock after purchasing an additional 29,411 shares during the period. Stifel Financial Corp’s holdings in Atlantic Capital were worth $1,313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Atlantic Capital by 27.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 418,950 shares of the bank’s stock valued at $7,583,000 after purchasing an additional 89,867 shares during the period. California Public Employees Retirement System raised its stake in shares of Atlantic Capital by 26.7% in the 1st quarter. California Public Employees Retirement System now owns 23,134 shares of the bank’s stock valued at $419,000 after purchasing an additional 4,876 shares during the period. Teton Advisors Inc. raised its stake in shares of Atlantic Capital by 262.7% in the 1st quarter. Teton Advisors Inc. now owns 250,308 shares of the bank’s stock valued at $4,531,000 after purchasing an additional 181,300 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Atlantic Capital by 21.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 97,845 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,365 shares during the period. Finally, Federated Investors Inc. PA raised its stake in shares of Atlantic Capital by 158.4% in the 1st quarter. Federated Investors Inc. PA now owns 7,853 shares of the bank’s stock valued at $142,000 after purchasing an additional 4,814 shares during the period. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. BidaskClub downgraded Atlantic Capital from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Zacks Investment Research downgraded Atlantic Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Sandler O’Neill set a $19.00 price target on Atlantic Capital and gave the company a “hold” rating in a research note on Wednesday, March 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.50.
ACBI opened at $20.45 on Wednesday. The stock has a market capitalization of $536.37 million, a price-to-earnings ratio of 34.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.96 and a current ratio of 0.96. Atlantic Capital has a 1 year low of $15.20 and a 1 year high of $21.60.
Atlantic Capital (NASDAQ:ACBI) last announced its quarterly earnings data on Thursday, April 26th. The bank reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $25.60 million during the quarter, compared to analysts’ expectations of $24.97 million. Atlantic Capital had a positive return on equity of 4.92% and a negative net margin of 1.65%. analysts expect that Atlantic Capital will post 0.98 EPS for the current fiscal year.
In other news, insider Gary G. Fleming, Jr. sold 2,420 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $20.98, for a total value of $50,771.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Graves sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $20.93, for a total value of $334,880.00. The disclosure for this sale can be found here. Insiders sold a total of 23,420 shares of company stock valued at $487,452 in the last 90 days. 3.40% of the stock is owned by corporate insiders.
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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