Zacks Investment Research Downgrades Atlantic Capital Bancshares (ACBI) to Hold

Atlantic Capital Bancshares (NASDAQ:ACBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “

A number of other brokerages also recently issued reports on ACBI. BidaskClub downgraded Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Atlantic Capital Bancshares in a research note on Friday, July 27th. ValuEngine raised Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. TheStreet downgraded Atlantic Capital Bancshares from a “b” rating to a “c+” rating in a research note on Thursday, August 30th. Finally, SunTrust Banks cut their target price on Atlantic Capital Bancshares from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.75.

ACBI stock traded up $0.05 during midday trading on Wednesday, reaching $15.40. The stock had a trading volume of 3,542 shares, compared to its average volume of 107,103. Atlantic Capital Bancshares has a 52-week low of $14.44 and a 52-week high of $21.60. The firm has a market capitalization of $397.30 million, a P/E ratio of 29.06, a PEG ratio of 0.65 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its earnings results on Thursday, October 25th. The bank reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Atlantic Capital Bancshares had a return on equity of 7.00% and a net margin of 3.55%. The company had revenue of $25.63 million during the quarter, compared to analyst estimates of $26.92 million. On average, equities analysts forecast that Atlantic Capital Bancshares will post 1.01 earnings per share for the current year.

Several large investors have recently modified their holdings of ACBI. SG Americas Securities LLC acquired a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth about $102,000. Principal Financial Group Inc. acquired a new stake in shares of Atlantic Capital Bancshares during the 1st quarter worth about $199,000. Voya Investment Management LLC acquired a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth about $226,000. Marshall Wace LLP acquired a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth about $235,000. Finally, Marco Investment Management LLC acquired a new stake in shares of Atlantic Capital Bancshares during the 2nd quarter worth about $312,000. 83.85% of the stock is owned by hedge funds and other institutional investors.

Atlantic Capital Bancshares 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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