Brokerages Anticipate Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Will Post Quarterly Sales of $28.75 Million

Wall Street analysts expect Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) to post sales of $28.75 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Atlantic Capital Bancshares’ earnings. The lowest sales estimate is $27.00 million and the highest is $29.90 million. Atlantic Capital Bancshares reported sales of $24.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 18.7%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 28th.

On average, analysts expect that Atlantic Capital Bancshares will report full year sales of $113.56 million for the current year, with estimates ranging from $109.10 million to $116.00 million. For the next financial year, analysts anticipate that the business will report sales of $119.00 million, with estimates ranging from $113.00 million to $122.30 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Atlantic Capital Bancshares.

Atlantic Capital Bancshares (NASDAQ:ACBI) last announced its quarterly earnings data on Thursday, July 22nd. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. Atlantic Capital Bancshares had a net margin of 38.08% and a return on equity of 12.75%. The firm had revenue of $29.24 million for the quarter, compared to analyst estimates of $28.23 million.

A number of equities research analysts recently weighed in on ACBI shares. Piper Sandler lowered shares of Atlantic Capital Bancshares from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $28.00 in a report on Tuesday, July 27th. Truist lowered their target price on shares of Atlantic Capital Bancshares from $32.00 to $26.50 and set a “buy” rating on the stock in a report on Monday, July 26th. Raymond James lowered shares of Atlantic Capital Bancshares from an “outperform” rating to a “market perform” rating and set a $24.16 target price on the stock. in a report on Monday, July 26th. Zacks Investment Research downgraded shares of Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, July 28th. Finally, Truist Securities reaffirmed a “buy” rating and issued a $24.72 price objective on shares of Atlantic Capital Bancshares in a research report on Monday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlantic Capital Bancshares presently has an average rating of “Buy” and an average price target of $26.28.

Shares of NASDAQ ACBI traded up $0.18 during trading on Thursday, hitting $22.74. 4,045 shares of the company traded hands, compared to its average volume of 98,837. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 0.87. Atlantic Capital Bancshares has a fifty-two week low of $10.48 and a fifty-two week high of $28.93. The firm has a market capitalization of $461.69 million, a price-to-earnings ratio of 10.69 and a beta of 0.91. The business’s fifty day moving average is $24.20 and its 200 day moving average is $25.26.

In related news, Director James H. Graves sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $25.14, for a total value of $201,120.00. Following the completion of the transaction, the director now directly owns 6,258 shares of the company’s stock, valued at approximately $157,326.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Eaton Vance Management purchased a new position in Atlantic Capital Bancshares in the 1st quarter worth $26,000. Metropolitan Life Insurance Co NY boosted its stake in shares of Atlantic Capital Bancshares by 99,685.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,985 shares of the bank’s stock valued at $178,000 after purchasing an additional 6,978 shares in the last quarter. King Luther Capital Management Corp purchased a new position in Atlantic Capital Bancshares during the 1st quarter valued at about $210,000. BNP Paribas Arbitrage SA lifted its position in Atlantic Capital Bancshares by 81.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,376 shares of the bank’s stock valued at $226,000 after acquiring an additional 4,197 shares during the period. Finally, Caxton Associates LP purchased a new position in Atlantic Capital Bancshares during the 1st quarter valued at about $237,000. Institutional investors own 84.96% of the company’s stock.

Atlantic Capital Bancshares Company Profile

Atlantic Capital Bancshares, Inc is a holding company, which engages in the provision of commercial banking services. The company offers an array of credit, treasury management, and deposit products and services. It also provides capital markets, mortgage banking, and electronic banking services to its corporate, business, and individual clients.

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

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