Atlantic Capital Bancshares, Inc. (ACBI) Holdings Trimmed by Marco Investment Management LLC
Marco Investment Management LLC trimmed its holdings in Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,900 shares of the bank’s stock after selling 5,100 shares during the quarter. Marco Investment Management LLC owned approximately 0.10% of Atlantic Capital Bancshares worth $473,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Suntrust Banks Inc. boosted its stake in Atlantic Capital Bancshares by 3.7% in the 2nd quarter. Suntrust Banks Inc. now owns 85,070 shares of the bank’s stock worth $1,616,000 after purchasing an additional 3,000 shares during the period. Vanguard Group Inc. boosted its stake in Atlantic Capital Bancshares by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 780,758 shares of the bank’s stock worth $14,835,000 after purchasing an additional 58,216 shares during the period. Northern Trust Corp boosted its stake in Atlantic Capital Bancshares by 27.7% in the 2nd quarter. Northern Trust Corp now owns 249,876 shares of the bank’s stock worth $4,747,000 after purchasing an additional 54,238 shares during the period. Penn Capital Management Co. Inc. bought a new position in Atlantic Capital Bancshares in the 2nd quarter worth approximately $1,304,000. Finally, New York State Common Retirement Fund boosted its stake in Atlantic Capital Bancshares by 30.5% in the 2nd quarter. New York State Common Retirement Fund now owns 23,100 shares of the bank’s stock worth $439,000 after purchasing an additional 5,399 shares during the period. Institutional investors and hedge funds own 78.34% of the company’s stock.
In other Atlantic Capital Bancshares news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $16.50, for a total value of $51,300,595.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.60% of the stock is currently owned by company insiders.
Atlantic Capital Bancshares, Inc. (NASDAQ ACBI) traded down 0.56% on Friday, reaching $17.90. The company’s stock had a trading volume of 60,553 shares. Atlantic Capital Bancshares, Inc. has a 12-month low of $13.80 and a 12-month high of $20.20. The firm has a 50-day moving average of $17.93 and a 200 day moving average of $18.55. The company has a market capitalization of $459.33 million, a price-to-earnings ratio of 35.73 and a beta of 1.04.
Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Atlantic Capital Bancshares had a return on equity of 4.45% and a net margin of 12.18%. The company had revenue of $26.00 million for the quarter, compared to analyst estimates of $25.10 million. On average, equities research analysts anticipate that Atlantic Capital Bancshares, Inc. will post $0.68 EPS for the current fiscal year.
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Several research analysts have weighed in on the company. Zacks Investment Research upgraded Atlantic Capital Bancshares from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, August 2nd. Gabelli assumed coverage on Atlantic Capital Bancshares in a research note on Wednesday, June 14th. They issued a “buy” rating and a $23.00 price target for the company. BidaskClub downgraded Atlantic Capital Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 price target on shares of Atlantic Capital Bancshares in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Atlantic Capital Bancshares currently has a consensus rating of “Hold” and a consensus target price 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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