Zacks Investment Research downgraded shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) from a hold rating to a sell rating in a research report report published on Tuesday morning.

According to Zacks, “Atlantic Coast Financial Corporation, formerly known as Atlantic Coast Federal Corporation, operates as a savings bank through its subsidiary Atlantic Coast Bank, a federally chartered and insured savings bank serving northeastern Florida and southeastern Georgia markets. The products offered by the bank includes checking accounts, savings accounts, money market accounts, demand deposit accounts, time deposit accounts, certificates of deposit, family residential first and second mortgage loans, home-equity loans, commercial real estate loans, commercial and residential construction loans, land and multi-family real estate loans, commercial business loans, and automobile and other consumer loans. Atlantic Coast Financial Corporation is based in Waycross, Georgia. “

Several other analysts have also issued reports on ACFC. ValuEngine lowered Atlantic Coast Financial Corporation from a buy rating to a hold rating in a report on Monday, October 2nd. FBR & Co reiterated a hold rating and set a $8.50 target price on shares of Atlantic Coast Financial Corporation in a report on Monday.

Shares of Atlantic Coast Financial Corporation (ACFC) traded down 1.72% on Tuesday, hitting $8.56. The stock had a trading volume of 2,722 shares. Atlantic Coast Financial Corporation has a one year low of $6.34 and a one year high of $9.10. The stock has a market capitalization of $132.59 million, a PE ratio of 21.40 and a beta of 1.13. The firm’s 50 day moving average is $8.67 and its 200-day moving average is $8.08.

Atlantic Coast Financial Corporation (NASDAQ:ACFC) last released its earnings results on Tuesday, October 24th. The bank reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Atlantic Coast Financial Corporation had a return on equity of 6.23% and a net margin of 13.98%. The company had revenue of $7.99 million for the quarter, compared to the consensus estimate of $9.26 million. Equities research analysts expect that Atlantic Coast Financial Corporation will post $0.31 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACFC. Dimensional Fund Advisors LP raised its holdings in Atlantic Coast Financial Corporation by 6.6% during the first quarter. Dimensional Fund Advisors LP now owns 114,978 shares of the bank’s stock worth $876,000 after acquiring an additional 7,155 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Atlantic Coast Financial Corporation by 6.4% during the first quarter. Renaissance Technologies LLC now owns 254,300 shares of the bank’s stock worth $1,938,000 after acquiring an additional 15,200 shares in the last quarter. Salzhauer Michael raised its holdings in Atlantic Coast Financial Corporation by 48.2% during the second quarter. Salzhauer Michael now owns 155,595 shares of the bank’s stock worth $1,220,000 after acquiring an additional 50,595 shares in the last quarter. PL Capital Advisors LLC raised its holdings in Atlantic Coast Financial Corporation by 0.5% during the second quarter. PL Capital Advisors LLC now owns 1,014,694 shares of the bank’s stock worth $7,955,000 after acquiring an additional 5,032 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Atlantic Coast Financial Corporation by 1.2% during the second quarter. Northern Trust Corp now owns 17,437 shares of the bank’s stock worth $137,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds 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.

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