Emerald Mutual Fund Advisers Trust maintained its stake in Atlantic Coast Financial Corp. (NASDAQ:ACFC) during the second quarter, Holdings Channel reports. The fund owned 225,594 shares of the company’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust’s holdings in Atlantic Coast Financial Corp. were worth $1,349,000 as of its most recent filing with the SEC.
Separately, Renaissance Technologies LLC boosted its stake in Atlantic Coast Financial Corp. by 5.3% in the first quarter. Renaissance Technologies LLC now owns 145,100 shares of the company’s stock worth $876,000 after buying an additional 7,300 shares during the period. Institutional investors own 48.58% of the company’s stock.
Shares of Atlantic Coast Financial Corp. (NASDAQ:ACFC) traded down 0.31% on Friday, reaching $6.48. 2,646 shares of the company were exchanged. Atlantic Coast Financial Corp. has a 52-week low of $5.03 and a 52-week high of $6.95. The stock has a 50 day moving average of $6.44 and a 200-day moving average of $6.22. The company has a market capitalization of $100.04 million, a P/E ratio of 21.89 and a beta of 0.01.
Atlantic Coast Financial Corp. (NASDAQ:ACFC) last announced its earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Atlantic Coast Financial Corp. had a net margin of 11.19% and a return on equity of 5.34%. On average, analysts predict that Atlantic Coast Financial Corp. will post $0.35 EPS for the current fiscal year.
A number of research firms have recently commented on ACFC. Zacks Investment Research upgraded Atlantic Coast Financial Corp. from a “sell” rating to a “hold” rating and set a $7.25 target price on the stock in a research report on Monday, August 22nd. FBR & Co raised their price target on shares of Atlantic Coast Financial Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, August 23rd.
About Atlantic Coast Financial Corp.
Atlantic Coast Financial Corporation is a thrift holding company. The Company’s principal subsidiary is Atlantic Coast Bank (the Bank), a federally chartered thrift. The Bank provides banking services to individual and business customers primarily in Northeast Florida and Southeast Georgia. The Bank’s primary deposit products are checking, savings and certificates of deposit, and its primary lending products are residential mortgage, home equity, consumer loans, and commercial loans.
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