Wells Fargo & Company MN Has $223,000 Holdings in Atlantic Capital Bancshares, Inc. (ACBI)

Wells Fargo & Company MN cut its stake in Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) by 59.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,727 shares of the bank’s stock after selling 17,290 shares during the period. Wells Fargo & Company MN’s holdings in Atlantic Capital Bancshares were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of America Corp DE increased its position in Atlantic Capital Bancshares by 5.8% in the first quarter. Bank of America Corp DE now owns 10,900 shares of the bank’s stock worth $206,000 after buying an additional 598 shares during the period. Legal & General Group Plc increased its position in Atlantic Capital Bancshares by 11.4% in the second quarter. Legal & General Group Plc now owns 5,954 shares of the bank’s stock worth $114,000 after buying an additional 611 shares during the period. American International Group Inc. increased its position in Atlantic Capital Bancshares by 7.0% in the first quarter. American International Group Inc. now owns 10,661 shares of the bank’s stock worth $202,000 after buying an additional 702 shares during the period. Victory Capital Management Inc. increased its position in Atlantic Capital Bancshares by 5.3% in the second quarter. Victory Capital Management Inc. now owns 52,566 shares of the bank’s stock worth $999,000 after buying an additional 2,655 shares during the period. Finally, Geode Capital Management LLC increased its position in Atlantic Capital Bancshares by 2.8% in the first quarter. Geode Capital Management LLC now owns 138,736 shares of the bank’s stock worth $2,629,000 after buying an additional 3,830 shares during the period. 71.77% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic Capital Bancshares, Inc. (ACBI) opened at $16.65 on Tuesday. The company has a market capitalization of $425.80, a price-to-earnings ratio of 30.09, a PEG ratio of 1.24 and a beta of 0.91. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54. Atlantic Capital Bancshares, Inc. has a fifty-two week low of $15.20 and a fifty-two week high of $20.20.

Atlantic Capital Bancshares (NASDAQ:ACBI) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $23.77 million for the quarter, compared to analyst estimates of $26.19 million. Atlantic Capital Bancshares had a net margin of 12.34% and a return on equity of 4.39%. sell-side analysts predict that Atlantic Capital Bancshares, Inc. will post 0.61 EPS for the current fiscal year.

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Several equities research analysts have weighed in on ACBI shares. Zacks Investment Research lowered Atlantic Capital Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub lowered Atlantic Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Keefe, Bruyette & Woods set a $20.00 price target on Atlantic Capital Bancshares and gave the company a “hold” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.67.

In other news, major shareholder Stone Point Capital Llc sold 3,109,127 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $16.50, for a total transaction of $51,300,595.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Atlantic Capital Bancshares 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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Institutional Ownership by Quarter for Atlantic Capital Bancshares (NASDAQ:ACBI)

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