FY2017 EPS Estimates for Atlantic Coast Financial Corporation Reduced by Analyst (ACFC)

Atlantic Coast Financial Corporation (NASDAQ:ACFC) – Equities research analysts at FBR & Co lowered their FY2017 earnings per share (EPS) estimates for shares of Atlantic Coast Financial Corporation in a report released on Monday. FBR & Co analyst S. Moss now expects that the bank will post earnings of $0.31 per share for the year, down from their prior forecast of $0.35. FBR & Co currently has a “Hold” rating and a $8.50 target price on the stock. FBR & Co also issued estimates for Atlantic Coast Financial Corporation’s Q4 2017 earnings at $0.08 EPS, Q1 2018 earnings at $0.09 EPS, Q2 2018 earnings at $0.10 EPS, Q3 2018 earnings at $0.12 EPS, FY2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.12 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.15 EPS and FY2019 earnings at $0.55 EPS.

Several other research analysts have also issued reports on the company. Zacks Investment Research raised Atlantic Coast Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. ValuEngine raised Atlantic Coast Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd.

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Shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) opened at 8.94 on Tuesday. The company’s 50 day moving average price is $8.66 and its 200 day moving average price is $8.08. Atlantic Coast Financial Corporation has a 52-week low of $6.34 and a 52-week high of $9.10. The stock has a market capitalization of $138.47 million, a PE ratio of 22.35 and a beta of 1.13.

Atlantic Coast Financial Corporation (NASDAQ:ACFC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Atlantic Coast Financial Corporation had a net margin of 13.98% and a return on equity of 6.23%. The company had revenue of $7.99 million for the quarter, compared to the consensus estimate of $9.26 million.

A number of large investors have recently made changes to their positions in the stock. Northern Trust Corp grew its stake in Atlantic Coast Financial Corporation by 1.2% during the 2nd quarter. Northern Trust Corp now owns 17,437 shares of the bank’s stock valued at $137,000 after purchasing an additional 212 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Atlantic Coast Financial Corporation by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 118,256 shares of the bank’s stock valued at $945,000 after purchasing an additional 3,278 shares during the last quarter. PL Capital Advisors LLC grew its stake in Atlantic Coast Financial Corporation by 0.5% during the 2nd quarter. PL Capital Advisors LLC now owns 1,014,694 shares of the bank’s stock valued at $7,955,000 after purchasing an additional 5,032 shares during the last quarter. Renaissance Technologies LLC grew its stake in Atlantic Coast Financial Corporation by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 254,300 shares of the bank’s stock valued at $1,938,000 after purchasing an additional 15,200 shares during the last quarter. Finally, State Street Corp purchased a new stake in Atlantic Coast Financial Corporation during the 2nd quarter valued at about $351,000. 52.00% of the stock is currently owned by institutional investors.

Atlantic Coast Financial Corporation Company Profile

Atlantic Coast Financial Corporation is a thrift holding company. The Company, through its subsidiary, Atlantic Coast Bank (the Bank), a federally chartered and insured stock savings bank supervised by the Office of the Comptroller of the Currency (the OCC), serves the Northeast Florida, Central Florida and Southeast Georgia markets.

Earnings History and Estimates for Atlantic Coast Financial Corporation (NASDAQ:ACFC)

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