Atlantic Coast Financial Corporation (NASDAQ:ACFC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Atlantic Coast Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. FBR & Co lowered shares of Atlantic Coast Financial Corporation from an “outperform” rating to a “market perform” rating and set a $8.50 target price on the stock. in a report on Friday, June 9th.

Atlantic Coast Financial Corporation (ACFC) opened at 8.70 on Friday. The firm has a 50-day moving average of $8.12 and a 200-day moving average of $7.85. Atlantic Coast Financial Corporation has a 52-week low of $6.21 and a 52-week high of $8.72. The firm has a market capitalization of $134.75 million, a price-to-earnings ratio of 21.75 and a beta of 1.19.

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A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new position in Atlantic Coast Financial Corporation in the 2nd quarter valued at about $351,000. Salem Investment Counselors Inc. grew its holdings in shares of Atlantic Coast Financial Corporation by 1,351.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 107,400 shares of the bank’s stock valued at $842,000 after purchasing an additional 100,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Atlantic Coast Financial Corporation by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 118,256 shares of the bank’s stock valued at $945,000 after purchasing an additional 3,278 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Atlantic Coast Financial Corporation by 1.2% during the 2nd quarter. Northern Trust Corp now owns 17,437 shares of the bank’s stock valued at $137,000 after purchasing an additional 212 shares during the last quarter. Finally, PL Capital Advisors LLC grew its holdings in shares of Atlantic Coast Financial Corporation by 0.5% during the 2nd quarter. PL Capital Advisors LLC now owns 1,014,694 shares of the bank’s stock valued at $7,955,000 after purchasing an additional 5,032 shares during the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

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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