Atlantic Capital Bancshares Inc (NASDAQ:ACBI) Expected to Announce Quarterly Sales of $23.36 Million

Analysts forecast that Atlantic Capital Bancshares Inc (NASDAQ:ACBI) will report sales of $23.36 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Atlantic Capital Bancshares’ earnings, with estimates ranging from $22.10 million to $24.64 million. Atlantic Capital Bancshares posted sales of $22.92 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The firm is scheduled to report its next earnings report on Thursday, July 23rd.

On average, analysts expect that Atlantic Capital Bancshares will report full year sales of $95.48 million for the current fiscal year, with estimates ranging from $92.20 million to $99.00 million. For the next fiscal year, analysts expect that the firm will report sales of $94.52 million, with estimates ranging from $89.40 million to $99.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.15). The firm had revenue of $23.63 million during the quarter, compared to analysts’ expectations of $22.74 million. Atlantic Capital Bancshares had a net margin of 39.81% and a return on equity of 7.20%.

ACBI has been the subject of several analyst reports. BidaskClub lowered shares of Atlantic Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 14th. TheStreet lowered shares of Atlantic Capital Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, March 16th. ValuEngine upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. SunTrust Banks raised their price target on shares of Atlantic Capital Bancshares from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Zacks Investment Research upgraded shares of Atlantic Capital Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.67.

In other Atlantic Capital Bancshares news, Director Shantella E. Cooper acquired 4,200 shares of Atlantic Capital Bancshares stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average cost of $12.22 per share, for a total transaction of $51,324.00. Following the purchase, the director now owns 8,187 shares of the company’s stock, valued at $100,045.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 6,200 shares of company stock valued at $73,554 over the last quarter. 3.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ACBI. Goldman Sachs Group Inc. grew its stake in Atlantic Capital Bancshares by 29.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 427,518 shares of the bank’s stock valued at $7,845,000 after buying an additional 96,835 shares in the last quarter. Bank of Montreal Can grew its stake in Atlantic Capital Bancshares by 85.8% in the 4th quarter. Bank of Montreal Can now owns 198,980 shares of the bank’s stock valued at $3,652,000 after buying an additional 91,885 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Atlantic Capital Bancshares in the 1st quarter valued at approximately $1,038,000. Renaissance Technologies LLC boosted its holdings in Atlantic Capital Bancshares by 17.2% in the 4th quarter. Renaissance Technologies LLC now owns 517,008 shares of the bank’s stock valued at $9,487,000 after purchasing an additional 75,900 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Atlantic Capital Bancshares by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 642,893 shares of the bank’s stock valued at $7,631,000 after purchasing an additional 61,541 shares during the period. Institutional investors and hedge funds own 84.58% of the company’s stock.

NASDAQ:ACBI traded down $0.55 on Friday, hitting $11.11. The stock had a trading volume of 194,446 shares, compared to its average volume of 124,806. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $250.24 million, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.11. Atlantic Capital Bancshares has a 1 year low of $8.89 and a 1 year high of $20.21. The firm’s fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $14.87.

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 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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Earnings History and Estimates for Atlantic Capital Bancshares (NASDAQ:ACBI)

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