Shares of Atlantic Capital (NASDAQ:ACBI) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $20.70 and last traded at $20.72, with a volume of 1100 shares. The stock had previously closed at $20.50.
Several analysts have commented on ACBI shares. Zacks Investment Research downgraded shares of Atlantic Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 2nd. BidaskClub downgraded shares of Atlantic Capital from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Sandler O’Neill set a $19.00 target price on shares of Atlantic Capital and gave the stock a “hold” rating in a report on Wednesday, March 28th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Atlantic Capital has an average rating of “Buy” and an average target price of $20.20.
The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $540.27 million, a P/E ratio of 38.68 and a beta of 0.66.
Atlantic Capital (NASDAQ:ACBI) last announced its earnings results on Thursday, April 26th. The bank reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Atlantic Capital had a negative net margin of 1.65% and a positive return on equity of 4.92%. The firm had revenue of $25.60 million for the quarter, compared to the consensus estimate of $24.97 million. equities research analysts forecast that Atlantic Capital will post 0.98 EPS for the current year.
In other news, insider Richard A. Jr. Oglesby sold 6,719 shares of Atlantic Capital stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $17.99, for a total value of $120,874.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurt A. Shreiner sold 2,500 shares of Atlantic Capital stock in a transaction that occurred on Wednesday, May 2nd. The shares were 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. Insiders sold 11,719 shares of company stock worth $213,750 over the last quarter. 3.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ACBI. Basswood Capital Management L.L.C. increased its holdings in Atlantic Capital by 166.8% during the fourth quarter. Basswood Capital Management L.L.C. now owns 964,313 shares of the bank’s stock worth $16,972,000 after buying an additional 602,824 shares during the last quarter. Millennium Management LLC increased its holdings in Atlantic Capital by 80.0% during the first quarter. Millennium Management LLC now owns 566,838 shares of the bank’s stock worth $10,260,000 after buying an additional 251,861 shares during the last quarter. Teton Advisors Inc. increased its holdings in Atlantic Capital by 262.7% during the first quarter. Teton Advisors Inc. now owns 250,308 shares of the bank’s stock worth $4,531,000 after buying an additional 181,300 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Atlantic Capital by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,392,698 shares of the bank’s stock worth $24,511,000 after buying an additional 154,831 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Atlantic Capital by 60.8% during the third quarter. Dimensional Fund Advisors LP now owns 239,189 shares of the bank’s stock worth $4,341,000 after buying an additional 90,436 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.
About Atlantic Capital
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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