Spark Investment Management LLC lowered its stake in Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) by 20.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,600 shares of the bank’s stock after selling 8,900 shares during the period. Spark Investment Management LLC’s holdings in Atlantic Capital Bancshares were worth $657,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. boosted its position 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 valued at $202,000 after buying an additional 702 shares during the last quarter. Bank of America Corp DE boosted its position in Atlantic Capital Bancshares by 5.8% in the first quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock valued at $206,000 after buying an additional 598 shares during the last quarter. Nationwide Fund Advisors boosted its position in Atlantic Capital Bancshares by 1.8% in the first quarter. Nationwide Fund Advisors now owns 11,091 shares of the bank’s stock valued at $210,000 after buying an additional 193 shares during the last quarter. Texas Capital Bancshares Inc. TX bought a new position in Atlantic Capital Bancshares during the second quarter valued at approximately $211,000. Finally, Patten Group Inc. boosted its position in Atlantic Capital Bancshares by 3.5% in the first quarter. Patten Group Inc. now owns 12,112 shares of the bank’s stock valued at $229,000 after buying an additional 405 shares during the last quarter. 74.05% of the stock is owned by hedge funds and other institutional investors.

Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) opened at 18.40 on Friday. The stock’s 50 day moving average price is $18.88 and its 200 day moving average price is $18.85. The firm has a market capitalization of $472.03 million, a PE ratio of 36.73 and a beta of 0.99. Atlantic Capital Bancshares, Inc. has a 52-week low of $13.80 and a 52-week high of $20.20.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its earnings results on Friday, July 28th. The bank reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $26 million during the quarter, compared to the consensus estimate of $25.10 million. Atlantic Capital Bancshares had a return on equity of 4.45% and a net margin of 12.18%. Analysts expect that Atlantic Capital Bancshares, Inc. will post $0.68 earnings per share for the current year.

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Several research firms recently commented on ACBI. Zacks Investment Research cut Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. BidaskClub cut Atlantic Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price on shares of Atlantic Capital Bancshares in a research note on Friday, June 2nd. Finally, Gabelli began coverage on Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They set a “buy” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Atlantic Capital Bancshares Company Profile

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.

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Institutional Ownership by Quarter for Atlantic Capital Bancshares (NASDAQ:ACBI)

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