Boston Partners raised its stake in shares of Atlantic Capital (NASDAQ:ACBI) by 2.0% in the first quarter, Holdings Channel reports. The fund owned 250,914 shares of the bank’s stock after purchasing an additional 5,000 shares during the period. Boston Partners’ holdings in Atlantic Capital were worth $4,542,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in shares of Atlantic Capital in the fourth quarter valued at approximately $184,000. Wells Fargo & Company MN boosted its stake in shares of Atlantic Capital by 70.8% in the third quarter. Wells Fargo & Company MN now owns 20,028 shares of the bank’s stock valued at $363,000 after purchasing an additional 8,301 shares during the period. Homrich & Berg boosted its stake in shares of Atlantic Capital by 59.9% in the fourth quarter. Homrich & Berg now owns 26,691 shares of the bank’s stock valued at $470,000 after purchasing an additional 10,000 shares during the period. Monarch Partners Asset Management LLC purchased a new position in shares of Atlantic Capital in the first quarter valued at approximately $542,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Atlantic Capital in the fourth quarter valued at approximately $574,000. Institutional investors and hedge funds own 80.17% of the company’s stock.
In related news, insider Kurt A. Shreiner sold 2,500 shares of Atlantic Capital stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $17.73, for a total value of $44,325.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard A. Jr. Oglesby sold 6,719 shares of Atlantic Capital stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $17.99, for a total transaction of $120,874.81. The disclosure for this sale can be found here. Insiders sold 11,719 shares of company stock valued at $213,750 in the last quarter. 3.40% of the stock is owned by insiders.
Shares of Atlantic Capital stock opened at $20.75 on Friday. Atlantic Capital has a 52-week low of $20.30 and a 52-week high of $20.35. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $528.56 million, a P/E ratio of 39.15 and a beta of 0.66.
Atlantic Capital (NASDAQ:ACBI) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Atlantic Capital had a negative net margin of 1.65% and a positive return on equity of 4.92%. The company had revenue of $25.60 million during the quarter, compared to the consensus estimate of $24.97 million. equities research analysts anticipate that Atlantic Capital will post 0.98 EPS for the current fiscal year.
ACBI has been the subject of several recent research reports. BidaskClub lowered shares of Atlantic Capital from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price objective on shares of Atlantic Capital in a research note on Monday, January 29th. SunTrust Banks reissued a “hold” rating and issued a $18.00 price objective on shares of Atlantic Capital in a research note on Monday, January 29th. Sandler O’Neill set a $18.00 price objective on shares of Atlantic Capital and gave the company a “hold” rating in a research note on Monday, January 29th. Finally, FIG Partners raised shares of Atlantic Capital from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.20.
Atlantic Capital Profile
Atlantic Capital Bancshares, Inc operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, money market, savings, checking, time, Internet and brokered, and demand deposits; working capital and equipment loans, loans supported by owner-occupied real estate, revolving lines of credit, term loans, letters of credit, installment and term loans, and home equity lines of credit; residential mortgage loans; and commercial real estate loans, including secured construction loans, secured mini-permanent loans, and secured or unsecured lines of credit.
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