Atlantic Capital Bancshares Inc (NASDAQ:ACBI) Expected to Post Quarterly Sales of $22.57 Million

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Wall Street brokerages expect Atlantic Capital Bancshares Inc (NASDAQ:ACBI) to report sales of $22.57 million for the current quarter, according to Zacks. Three analysts have made estimates for Atlantic Capital Bancshares’ earnings. The highest sales estimate is $23.00 million and the lowest is $22.34 million. Atlantic Capital Bancshares posted sales of $21.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The company is expected to announce its next quarterly earnings results on Thursday, January 30th.

On average, analysts expect that Atlantic Capital Bancshares will report full-year sales of $90.70 million for the current financial year, with estimates ranging from $90.00 million to $92.00 million. For the next financial year, analysts forecast that the company will report sales of $93.26 million, with estimates ranging from $91.00 million to $95.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $22.86 million for the quarter, compared to analyst estimates of $22.34 million. Atlantic Capital Bancshares had a net margin of 45.08% and a return on equity of 8.82%.

Several research analysts have recently weighed in on ACBI shares. SunTrust Banks lowered their price objective on shares of Atlantic Capital Bancshares from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, August 27th. BidaskClub upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. ValuEngine upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods upgraded shares of Atlantic Capital Bancshares from a “market perform” rating to an “outperform” rating in a research note on Friday, September 6th. Finally, Zacks Investment Research upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.33.

Shares of Atlantic Capital Bancshares stock traded down $0.20 during trading on Wednesday, hitting $18.72. 60,934 shares of the stock were exchanged, compared to its average volume of 109,538. The stock has a market capitalization of $414.13 million, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The company has a fifty day moving average price of $18.36 and a 200-day moving average price of $17.53. Atlantic Capital Bancshares has a 1-year low of $15.11 and a 1-year high of $19.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.38.

A number of institutional investors and hedge funds have recently made changes to their positions in ACBI. BlackRock Inc. grew its holdings in Atlantic Capital Bancshares by 9.3% in the second quarter. BlackRock Inc. now owns 1,564,748 shares of the bank’s stock worth $26,789,000 after purchasing an additional 132,764 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Atlantic Capital Bancshares by 27.2% in the third quarter. Russell Investments Group Ltd. now owns 527,404 shares of the bank’s stock worth $9,146,000 after purchasing an additional 112,763 shares in the last quarter. Teton Advisors Inc. increased its stake in shares of Atlantic Capital Bancshares by 5.9% in the second quarter. Teton Advisors Inc. now owns 348,158 shares of the bank’s stock worth $5,960,000 after purchasing an additional 19,500 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Atlantic Capital Bancshares by 22.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 251,455 shares of the bank’s stock worth $4,305,000 after purchasing an additional 45,517 shares in the last quarter. Finally, Context BH Capital Management LP increased its stake in shares of Atlantic Capital Bancshares by 2.1% in the second quarter. Context BH Capital Management LP now owns 202,627 shares of the bank’s stock worth $3,469,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc operates as the bank holding company for Atlantic Capital Bank, N.A. that provides banking products and services in the Metropolitan Atlanta and rest of the United States. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits; and NOW accounts.

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