Atlantic Capital (ACBI) Expected to Post Earnings of $0.17 Per Share

Brokerages forecast that Atlantic Capital (NASDAQ:ACBI) will post $0.17 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Atlantic Capital’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.16. Atlantic Capital posted earnings of $0.13 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 30.8%. The company is scheduled to issue its next quarterly earnings report after the market closes on Thursday, April 26th.

On average, analysts expect that Atlantic Capital will report full-year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.97. For the next year, analysts forecast that the company will post earnings of $1.12 per share, with EPS estimates ranging from $1.10 to $1.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Atlantic Capital.

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Atlantic Capital (NASDAQ:ACBI) last released its earnings results on Monday, January 29th. The bank reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.08). The company had revenue of $24.68 million during the quarter, compared to analysts’ expectations of $24.55 million. Atlantic Capital had a negative net margin of 3.31% and a positive return on equity of 4.33%.

A number of research analysts have weighed in on ACBI shares. Zacks Investment Research upgraded shares of Atlantic Capital from a “sell” rating to a “hold” rating and set a $20.00 target price on the stock in a research note on Monday, January 1st. BidaskClub cut shares of Atlantic Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Sandler O’Neill set a $19.00 target price on shares of Atlantic Capital and gave the company a “hold” rating in a research note on Wednesday, March 28th. Finally, FIG Partners upgraded shares of Atlantic Capital from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $20.20.

ACBI opened at $19.25 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $490.96, a price-to-earnings ratio of 35.28 and a beta of 0.68. Atlantic Capital has a twelve month low of $15.20 and a twelve month high of $19.85.

In other news, insider Richard A. Jr. Oglesby sold 6,719 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $17.99, for a total value of $120,874.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurt A. Shreiner sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $17.73, for a total transaction of $44,325.00. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ACBI. SG Americas Securities LLC bought a new stake in shares of Atlantic Capital in the third quarter valued at approximately $133,000. MetLife Investment Advisors LLC bought a new stake in shares of Atlantic Capital in the fourth quarter valued at approximately $184,000. Wells Fargo & Company MN raised its position 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 raised its position 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. Finally, Goldman Sachs Group Inc. bought a new stake in Atlantic Capital during the 4th quarter worth approximately $574,000. 80.11% of the stock is currently owned by institutional investors.

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About Atlantic Capital

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

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