SunTrust Banks Brokers Boost Earnings Estimates for Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI)

Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) – SunTrust Banks raised their Q4 2017 earnings estimates for Atlantic Capital Bancshares in a research note issued on Monday. SunTrust Banks analyst J. Demba now anticipates that the bank will post earnings per share of $0.19 for the quarter, up from their prior forecast of $0.18. SunTrust Banks also issued estimates for Atlantic Capital Bancshares’ Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.23 EPS and FY2018 earnings at $0.91 EPS.

ACBI has been the topic of a number of other research reports. BidaskClub lowered Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Atlantic Capital Bancshares in a research report on Friday, June 2nd. Zacks Investment Research lowered Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Finally, Gabelli initiated coverage on Atlantic Capital Bancshares in a research report on Wednesday, June 14th. They set a “buy” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.67.

Shares of Atlantic Capital Bancshares (NASDAQ:ACBI) traded up 0.5272% on Wednesday, hitting $19.0499. The stock had a trading volume of 25,333 shares. The stock has a 50 day moving average of $18.88 and a 200 day moving average of $18.87. Atlantic Capital Bancshares has a 12-month low of $13.80 and a 12-month high of $20.20. The firm has a market cap of $488.71 million, a price-to-earnings ratio of 38.0238 and a beta of 0.99.

Atlantic Capital Bancshares (NASDAQ:ACBI) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $26 million for the quarter, compared to the consensus estimate of $25.10 million. Atlantic Capital Bancshares had a return on equity of 4.49% and a net margin of 12.18%.

Several hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake in Atlantic Capital Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 10,661 shares of the bank’s stock worth $202,000 after buying an additional 702 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Atlantic Capital Bancshares by 20.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 165,337 shares of the bank’s stock worth $3,133,000 after buying an additional 27,730 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Atlantic Capital Bancshares by 155.0% in the first quarter. Bank of New York Mellon Corp now owns 548,763 shares of the bank’s stock worth $10,400,000 after buying an additional 333,588 shares in the last quarter. Renaissance Technologies LLC raised its stake in Atlantic Capital Bancshares by 128.6% in the fourth quarter. Renaissance Technologies LLC now owns 191,816 shares of the bank’s stock worth $3,645,000 after buying an additional 107,916 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Atlantic Capital Bancshares by 36.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 18,203 shares of the bank’s stock worth $344,000 after buying an additional 4,903 shares in the last quarter. 74.14% of the stock is currently owned by institutional investors and hedge funds.

About Atlantic Capital Bancshares

Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a commercial bank. The Bank provides an array of credit, treasury management and deposit products and services to growth businesses, middle market corporations, commercial real estate developers and investors, and private clients.