Atlantic Coast Financial (ACFC) Reaches New 1-Year High at $9.99

Shares of Atlantic Coast Financial Corp (NASDAQ:ACFC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.99 and last traded at $9.89, with a volume of 26800 shares. The stock had previously closed at $9.74.

A number of analysts have issued reports on ACFC shares. ValuEngine raised Atlantic Coast Financial from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. FBR & Co reiterated a “hold” rating and set a $8.50 target price on shares of Atlantic Coast Financial in a research report on Monday, October 30th. Finally, Zacks Investment Research upgraded Atlantic Coast Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 9th.

The company has a debt-to-equity ratio of 1.65, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $153.83, a PE ratio of 27.41 and a beta of 1.11.

Atlantic Coast Financial (NASDAQ:ACFC) last posted its earnings results on Tuesday, October 24th. The bank reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). Atlantic Coast Financial had a return on equity of 6.19% and a net margin of 13.98%. The firm had revenue of $7.99 million for the quarter, compared to analyst estimates of $9.26 million. research analysts forecast that Atlantic Coast Financial Corp will post 0.31 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ACFC. Northern Trust Corp increased its position in shares of Atlantic Coast Financial by 1.2% during the second quarter. Northern Trust Corp now owns 17,437 shares of the bank’s stock worth $137,000 after purchasing an additional 212 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Atlantic Coast Financial by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 118,256 shares of the bank’s stock worth $945,000 after purchasing an additional 3,278 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Atlantic Coast Financial by 1,351.4% during the second quarter. Salem Investment Counselors Inc. now owns 107,400 shares of the bank’s stock worth $842,000 after purchasing an additional 100,000 shares in the last quarter. State Street Corp acquired a new stake in shares of Atlantic Coast Financial during the second quarter worth about $351,000. Finally, Thomson Horstmann & Bryant Inc. acquired a new stake in shares of Atlantic Coast Financial during the third quarter worth about $3,394,000. Institutional investors and hedge funds own 56.99% of the company’s stock.

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Atlantic Coast Financial 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.

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