Zacks Investment Research upgraded shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) from a sell rating to a hold rating in a research report sent to investors on Monday 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. “

Separately, FBR & Co downgraded shares of Atlantic Coast Financial Corporation from an outperform rating to a market perform rating and set a $8.50 price target for the company. in a report on Friday, June 9th.

Shares of Atlantic Coast Financial Corporation (NASDAQ ACFC) opened at 7.74 on Monday. The firm has a market cap of $119.87 million, a price-to-earnings ratio of 18.74 and a beta of 1.13. The stock has a 50 day moving average of $7.73 and a 200 day moving average of $7.58. Atlantic Coast Financial Corporation has a 12 month low of $5.84 and a 12 month high of $8.35.

Atlantic Coast Financial Corporation (NASDAQ:ACFC) last announced its quarterly earnings results on Tuesday, April 25th. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $8.93 million during the quarter, compared to the consensus estimate of $8.79 million. Atlantic Coast Financial Corporation had a net margin of 14.88% and a return on equity of 6.70%. On average, equities research analysts expect that Atlantic Coast Financial Corporation will post $0.40 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Atlantic Coast Financial Corporation by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 114,978 shares of the bank’s stock worth $876,000 after buying an additional 7,155 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Atlantic Coast Financial Corporation by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 239,100 shares of the bank’s stock worth $1,626,000 after buying an additional 11,000 shares in the last quarter. RMB Capital Management LLC increased its position in shares of Atlantic Coast Financial Corporation by 1.2% in the fourth quarter. RMB Capital Management LLC now owns 835,547 shares of the bank’s stock worth $5,682,000 after buying an additional 10,000 shares in the last quarter. Finally, EJF Capital LLC increased its position in shares of Atlantic Coast Financial Corporation by 1.0% in the first quarter. EJF Capital LLC now owns 913,960 shares of the bank’s stock worth $6,964,000 after buying an additional 9,253 shares in the last quarter. Institutional investors and hedge funds own 47.99% 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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