Atlantic Coast Financial Corporation (ACFC) Given $8.50 Average Price Target by Analysts
Atlantic Coast Financial Corporation (NASDAQ:ACFC) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus target price of $8.50 for the company and are predicting that the company will post $0.08 EPS for the current quarter, according to Zacks. Zacks has also assigned Atlantic Coast Financial an industry rank of 203 out of 265 based on the ratings given to its competitors.
ACFC has been the subject of several analyst reports. FBR & Co restated a “hold” rating and issued a $8.50 price objective on shares of Atlantic Coast Financial in a report on Monday, October 30th. Zacks Investment Research cut Atlantic Coast Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, ValuEngine upgraded Atlantic Coast Financial from a “hold” rating to a “buy” rating in a report on Friday, September 22nd.
A number of large investors have recently modified their holdings of ACFC. Northern Trust Corp lifted its stake in Atlantic Coast Financial by 1.2% in 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. State Street Corp acquired a new stake in Atlantic Coast Financial in the 2nd quarter valued at about $351,000. Salem Investment Counselors Inc. lifted its stake in Atlantic Coast Financial by 1,351.4% in 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 lifted its stake in Atlantic Coast Financial by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 114,978 shares of the bank’s stock valued at $876,000 after purchasing an additional 7,155 shares during the last quarter. Finally, Salzhauer Michael lifted its stake in Atlantic Coast Financial by 19.7% in the 3rd quarter. Salzhauer Michael now owns 186,180 shares of the bank’s stock valued at $1,640,000 after purchasing an additional 30,585 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.
Atlantic Coast Financial (NASDAQ:ACFC) opened at $9.33 on Monday. The firm has a market capitalization of $145.12, a PE ratio of 25.92 and a beta of 1.08. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.65. Atlantic Coast Financial has a 1-year low of $6.63 and a 1-year high of $9.95.
Atlantic Coast Financial (NASDAQ:ACFC) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). The company had revenue of $7.99 million during the quarter, compared to the consensus estimate of $9.26 million. Atlantic Coast Financial had a net margin of 13.98% and a return on equity of 6.19%. sell-side analysts expect that Atlantic Coast Financial will post 0.31 earnings per share for the current fiscal year.
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Atlantic Coast Financial 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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