Zacks: Analysts Anticipate Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Will Post Earnings of $0.52 Per Share

Wall Street brokerages forecast that Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) will report $0.52 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Atlantic Capital Bancshares’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.46. Atlantic Capital Bancshares posted earnings per share of $0.40 in the same quarter last year, which would suggest a positive year-over-year growth rate of 30%. The firm is expected to issue its next earnings report on Thursday, October 28th.

On average, analysts expect that Atlantic Capital Bancshares will report full-year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.05 to $2.33. For the next financial year, analysts forecast that the firm will post earnings of $1.96 per share, with EPS estimates ranging from $1.81 to $2.08. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Atlantic Capital Bancshares.

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

A number of brokerages have issued reports on ACBI. Zacks Investment Research lowered Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, July 28th. Truist decreased their price target on Atlantic Capital Bancshares from $32.00 to $26.50 and set a “buy” rating for the company in a research note on Monday, July 26th. Truist Securities reaffirmed a “buy” rating and set a $24.72 price target on shares of Atlantic Capital Bancshares in a research note on Monday, July 26th. Raymond James lowered Atlantic Capital Bancshares from an “outperform” rating to a “market perform” rating and set a $24.16 price target for the company. in a research note on Monday, July 26th. Finally, Piper Sandler lowered Atlantic Capital Bancshares from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $28.00 in a research note on Tuesday, July 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $26.28.

In other news, Director James H. Graves sold 8,000 shares of the stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $25.14, for a total transaction of $201,120.00. Following the completion of the sale, the director now owns 6,258 shares in the company, valued at approximately $157,326.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Atlantic Capital Bancshares by 4.1% during the first quarter. BlackRock Inc. now owns 1,623,227 shares of the bank’s stock worth $39,120,000 after acquiring an additional 63,836 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Atlantic Capital Bancshares by 2.6% during the second quarter. Vanguard Group Inc. now owns 1,010,761 shares of the bank’s stock worth $25,734,000 after acquiring an additional 25,832 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Atlantic Capital Bancshares by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 654,816 shares of the bank’s stock worth $16,671,000 after acquiring an additional 19,832 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Atlantic Capital Bancshares by 4.4% during the first quarter. The Manufacturers Life Insurance Company now owns 634,984 shares of the bank’s stock worth $15,303,000 after acquiring an additional 26,860 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Atlantic Capital Bancshares by 7.3% during the second quarter. State Street Corp now owns 387,291 shares of the bank’s stock worth $9,860,000 after acquiring an additional 26,399 shares in the last quarter. Institutional investors own 84.96% of the company’s stock.

ACBI stock traded down $0.51 on Tuesday, reaching $23.03. The company’s stock had a trading volume of 85,285 shares, compared to its average volume of 95,842. Atlantic Capital Bancshares has a 52 week low of $10.48 and a 52 week high of $28.93. The company has a market capitalization of $467.58 million, a P/E ratio of 10.91 and a beta of 0.91. The firm has a fifty day moving average of $24.38 and a two-hundred day moving average of $25.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.87.

About Atlantic Capital Bancshares

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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