Atlantic Coast Financial Corporation (NASDAQ:ACFC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) from a sell rating to a hold rating in a report published on Monday, October 9th.

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, ValuEngine cut shares of Atlantic Coast Financial Corporation from a buy rating to a hold rating in a report on Monday, October 2nd.

Atlantic Coast Financial Corporation (NASDAQ:ACFC) traded up 0.34% on Monday, reaching $8.93. 916 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $8.54 and a 200-day moving average of $8.01. The company has a market cap of $138.32 million, a P/E ratio of 22.33 and a beta of 1.13. Atlantic Coast Financial Corporation has a 12-month low of $6.27 and a 12-month high of $9.00.

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Several hedge funds have recently bought and sold shares of the stock. PL Capital Advisors LLC boosted its holdings in shares of 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 purchasing an additional 5,032 shares during the period. EJF Capital LLC boosted its holdings in shares of Atlantic Coast Financial Corporation by 1.0% during the first quarter. EJF Capital LLC now owns 913,960 shares of the bank’s stock worth $6,964,000 after purchasing an additional 9,253 shares during the period. Renaissance Technologies LLC lifted its stake in Atlantic Coast Financial Corporation by 6.4% in the first 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 lifted its stake in Atlantic Coast Financial Corporation by 48.2% in the second 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. Finally, Dimensional Fund Advisors LP lifted its stake in Atlantic Coast Financial Corporation by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 118,256 shares of the bank’s stock valued at $945,000 after acquiring an additional 3,278 shares during the last quarter. Institutional investors and hedge funds own 49.52% 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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