Atlantic Coast Financial Corporation (ACFC) Lifted to “Hold” at Zacks Investment Research

Atlantic Coast Financial Corporation (NASDAQ:ACFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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 upgraded Atlantic Coast Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd.

Shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) traded down 1.16% during midday trading on Monday, hitting $8.55. The company had a trading volume of 17,062 shares. The company has a 50-day moving average of $8.42 and a 200-day moving average of $7.94. Atlantic Coast Financial Corporation has a 12 month low of $6.26 and a 12 month high of $8.89. The company has a market capitalization of $132.43 million, a PE ratio of 21.38 and a beta of 1.13.

WARNING: “Atlantic Coast Financial Corporation (ACFC) Lifted to “Hold” at Zacks Investment Research” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/atlantic-coast-financial-corporation-acfc-lifted-to-hold-at-zacks-investment-research.html.

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake 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 purchasing an additional 212 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Atlantic Coast Financial Corporation 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. PL Capital Advisors LLC lifted its stake 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 purchasing an additional 5,032 shares in the last quarter. EJF Capital LLC lifted its stake in 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Atlantic Coast Financial Corporation by 6.4% during the first quarter. Renaissance Technologies LLC now owns 254,300 shares o

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 upgraded Atlantic Coast Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd.

Shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) traded down 1.16% during midday trading on Monday, hitting $8.55. The company had a trading volume of 17,062 shares. The company has a 50-day moving average of $8.42 and a 200-day moving average of $7.94. Atlantic Coast Financial Corporation has a 12 month low of $6.26 and a 12 month high of $8.89. The company has a market capitalization of $132.43 million, a PE ratio of 21.38 and a beta of 1.13.

WARNING: “Atlantic Coast Financial Corporation (ACFC) Lifted to “Hold” at Zacks Investment Research” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/atlantic-coast-financial-corporation-acfc-lifted-to-hold-at-zacks-investment-research.html.

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake 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 purchasing an additional 212 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Atlantic Coast Financial Corporation 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. PL Capital Advisors LLC lifted its stake 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 purchasing an additional 5,032 shares in the last quarter. EJF Capital LLC lifted its stake in 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 purchasing an additional 15,200 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

About Atlantic Coast Financial Corporation

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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