Atlantic Capital Bancshares Inc. (ACBI) Sees Strong Trading Volume
Atlantic Capital Bancshares Inc. (NASDAQ:ACBI) saw an uptick in trading volume on Thursday . 64,937 shares were traded during trading, an increase of 14% from the previous session’s volume of 57,072 shares.The stock last traded at $15.40 and had previously closed at $15.43.
Several brokerages recently issued reports on ACBI. Keefe, Bruyette & Woods lifted their price objective on shares of Atlantic Capital Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Sandler O’Neill lowered shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Raymond James Financial Inc. lowered shares of Atlantic Capital Bancshares from an “outperform” rating to a “market perform” rating in a report on Friday, July 29th. Citigroup Inc. lowered shares of Atlantic Capital Bancshares to a “market perform” rating in a report on Friday, July 29th. Finally, Zacks Investment Research lowered shares of Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.00.
The company has a market cap of $380.52 million and a PE ratio of 159.58. The firm’s 50 day moving average price is $14.95 and its 200 day moving average price is $14.02.
Atlantic Capital Bancshares (NASDAQ:ACBI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. On average, equities research analysts predict that Atlantic Capital Bancshares Inc. will post $0.64 EPS for the current fiscal year.
In related news, CEO Douglas Lloyd Williams sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $14.77, for a total transaction of $66,465.00. Following the completion of the transaction, the chief executive officer now owns 189,151 shares of the company’s stock, valued at approximately $2,793,760.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter M. Deriso, Jr. sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $14.50, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 127,169 shares of the company’s stock, valued at approximately $1,843,950.50. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Atlantic Capital Bancshares stock. Suntrust Banks Inc. acquired a new position in Atlantic Capital Bancshares Inc. (NASDAQ:ACBI) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 105,000 shares of the company’s stock, valued at approximately $1,572,000. Suntrust Banks Inc. owned approximately 0.43% of Atlantic Capital Bancshares as of its most recent SEC filing.
Atlantic Capital Bancshares, Inc is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed 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.
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