FBR & Co Comments on Atlantic Coast Financial Corporation’s Q4 2018 Earnings (ACFC)

Atlantic Coast Financial Corporation (NASDAQ:ACFC) – Stock analysts at FBR & Co dropped their Q4 2018 earnings per share estimates for Atlantic Coast Financial Corporation in a research note issued on Monday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.17. FBR & Co currently has a “Hold” rating and a $8.50 target price on the stock.

ACFC has been the subject of several other research reports. ValuEngine cut shares of Atlantic Coast Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Atlantic Coast Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday.

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Atlantic Coast Financial Corporation (NASDAQ:ACFC) last released its quarterly earnings data 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). The company had revenue of $7.99 million for the quarter, compared to the consensus estimate of $9.26 million. Atlantic Coast Financial Corporation had a return on equity of 6.23% and a net margin of 13.98%.

Several institutional investors have recently modified their holdings of ACFC. Dimensional Fund Advisors LP raised its position in shares of Atlantic Coast Financial Corporation by 6.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 114,978 shares of the bank’s stock valued at $876,000 after acquiring an additional 7,155 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 15,200 shares during the last quarter. Salzhauer Michael raised its position in shares of Atlantic Coast Financial Corporation by 48.2% during the 2nd quarter. Salzhauer Michael now owns 155,595 shares of the bank’s stock valued at $1,220,000 after acquiring an additional 50,595 shares during the last quarter. PL Capital Advisors LLC raised its position in shares of 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 acquiring an additional 5,032 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 acquiring an additional 212 shares during the last quarter. Institutional investors own 52.00% of the company’s stock.

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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