U.S. Markets closed

Atlantic Capital Bancshares: 1Q Earnings Snapshot

ATLANTA (AP) _ Atlantic Capital Bancshares Inc. (ACBI) on Thursday reported first-quarter net income of $5.4 million.

The bank, based in Atlanta, said it had earnings of 21 cents per share. Earnings, adjusted to account for discontinued operations, came to 26 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The bank holding company posted revenue of $28.5 million in the period. Its revenue net of interest expense was $22.8 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $23.2 million.

Atlantic Capital Bancshares shares have risen 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.03, a decrease of 6 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACBI at https://www.zacks.com/ap/ACBI