Analysts Anticipate Atlantic Coast Financial Corporation (ACFC) to Announce $0.08 Earnings Per Share
Atlantic Coast Financial Corporation (NASDAQ:ACFC) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Brokers have set a 1 year consensus price objective of $8.50 for the company and are anticipating that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Atlantic Coast Financial an industry rank of 199 out of 265 based on the ratings given to related companies.
A number of brokerages have recently weighed in on ACFC. ValuEngine downgraded shares of Atlantic Coast Financial from a “buy” rating to a “hold” rating in a report on Friday, December 1st. FBR & Co reaffirmed a “hold” rating and set a $8.50 price target on shares of Atlantic Coast Financial in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded shares of Atlantic Coast Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st.
Atlantic Coast Financial (NASDAQ:ACFC) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). Atlantic Coast Financial had a return on equity of 6.19% and a net margin of 13.98%. The firm had revenue of $7.99 million for the quarter, compared to the consensus estimate of $9.26 million. equities analysts predict that Atlantic Coast Financial will post 0.31 earnings per share for the current year.
Several institutional 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 bought a new position in Atlantic Coast Financial in the 2nd quarter valued at approximately $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. 56.99% of the stock is owned by institutional investors.
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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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