Wall Street brokerages forecast that Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) will report sales of $25.33 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Atlantic Capital Bancshares’ earnings, with the lowest sales estimate coming in at $24.60 million and the highest estimate coming in at $26.00 million. Atlantic Capital Bancshares reported sales of $23.41 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.2%. The company is expected to announce its next quarterly earnings results on Thursday, February 4th.
According to Zacks, analysts expect that Atlantic Capital Bancshares will report full-year sales of $96.58 million for the current fiscal year, with estimates ranging from $95.00 million to $98.00 million. For the next fiscal year, analysts expect that the firm will report sales of $99.26 million, with estimates ranging from $96.00 million to $101.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Atlantic Capital Bancshares.
Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.14. Atlantic Capital Bancshares had a net margin of 17.73% and a return on equity of 5.91%. The business had revenue of $24.22 million for the quarter, compared to analysts’ expectations of $24.70 million.
ACBI has been the topic of several research analyst reports. BidaskClub raised Atlantic Capital Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. ValuEngine lowered Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 1st. TheStreet raised Atlantic Capital Bancshares from a “c” rating to a “b-” rating in a research note on Friday, October 23rd. Finally, Zacks Investment Research raised shares of Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, December 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.00.
Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its holdings in Atlantic Capital Bancshares by 26.7% in the 2nd quarter. California Public Employees Retirement System now owns 46,202 shares of the bank’s stock valued at $562,000 after purchasing an additional 9,742 shares in the last quarter. Stifel Financial Corp boosted its position in Atlantic Capital Bancshares by 2.7% during the second quarter. Stifel Financial Corp now owns 133,330 shares of the bank’s stock worth $1,621,000 after acquiring an additional 3,465 shares during the last quarter. Bank of America Corp DE grew its stake in Atlantic Capital Bancshares by 39.2% in the 2nd quarter. Bank of America Corp DE now owns 53,630 shares of the bank’s stock worth $653,000 after acquiring an additional 15,110 shares during the period. Bridgeway Capital Management Inc. raised its holdings in Atlantic Capital Bancshares by 23.7% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 182,733 shares of the bank’s stock valued at $2,222,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Atlantic Capital Bancshares in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.
Shares of ACBI opened at $16.98 on Tuesday. Atlantic Capital Bancshares has a twelve month low of $8.89 and a twelve month high of $20.21. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $352.83 million, a P/E ratio of 18.66, a PEG ratio of 1.14 and a beta of 0.91. The firm’s 50-day moving average is $15.67 and its two-hundred day moving average is $13.02.
Atlantic Capital Bancshares Company Profile
Atlantic Capital Bancshares, Inc operates as the bank holding company for Atlantic Capital Bank, N.A. that provides banking products and services. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits. It also provides working capital and equipment loans, loans supported by owner-occupied real estate, revolving lines of credit, term loans, and letters of credit; secured installment and term loans, and home equity lines of credit; and commercial real estate loans, including secured construction loans, secured mini-permanent loans, and secured or unsecured lines of credit, as well as small business administration and franchise finance loans.
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