GSA Capital Partners LLP Decreases Stake in Atlantic Coast Financial Corp. (ACFC)
GSA Capital Partners LLP decreased its stake in Atlantic Coast Financial Corp. (NASDAQ:ACFC) by 27.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,829 shares of the company’s stock after selling 9,015 shares during the period. GSA Capital Partners LLP owned about 0.15% of Atlantic Coast Financial Corp. worth $142,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp boosted its stake in Atlantic Coast Financial Corp. by 1.1% in the second quarter. Mendon Capital Advisors Corp now owns 697,029 shares of the company’s stock worth $4,169,000 after buying an additional 7,300 shares in the last quarter. RMB Capital Management LLC boosted its stake in Atlantic Coast Financial Corp. by 8.5% in the second quarter. RMB Capital Management LLC now owns 825,547 shares of the company’s stock worth $4,937,000 after buying an additional 64,650 shares in the last quarter. Finally, 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 in the last quarter. 48.58% of the stock is owned by institutional investors and hedge funds.
Shares of Atlantic Coast Financial Corp. (NASDAQ:ACFC) traded up 0.31% during mid-day trading on Wednesday, hitting $6.46. The stock had a trading volume of 2,168 shares. Atlantic Coast Financial Corp. has a one year low of $5.03 and a one year high of $6.95. The company has a 50-day moving average of $6.40 and a 200 day moving average of $6.21. The firm has a market cap of $99.74 million, a price-to-earnings ratio of 21.82 and a beta of 0.01.
Atlantic Coast Financial Corp. (NASDAQ:ACFC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Atlantic Coast Financial Corp. had a return on equity of 5.34% and a net margin of 11.19%. On average, equities research analysts forecast that Atlantic Coast Financial Corp. will post $0.35 earnings per share for the current year.
ACFC has been the subject of several recent analyst reports. FBR & Co lifted their price target on Atlantic Coast Financial Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, August 23rd. Zacks Investment Research cut Atlantic Coast Financial Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 29th.
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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