Zacks Investment Research upgraded shares of Atlantic Coast Financial Corp. (NASDAQ:ACFC) from a sell rating to a hold rating in a research report released on Monday morning.

According to Zacks, “Atlantic Coast Financial Corporation, formerly known as Atlantic Coast Federal Corporation, operates as a savings bank through its subsidiary Atlantic Coast Bank, a federally chartered and insured savings bank serving northeastern Florida and southeastern Georgia markets. The products offered by the bank includes checking accounts, savings accounts, money market accounts, demand deposit accounts, time deposit accounts, certificates of deposit, family residential first and second mortgage loans, home-equity loans, commercial real estate loans, commercial and residential construction loans, land and multi-family real estate loans, commercial business loans, and automobile and other consumer loans. Atlantic Coast Financial Corporation is based in Waycross, Georgia. “

Separately, FBR & Co set a $8.00 target price on shares of Atlantic Coast Financial Corp. and gave the company a buy rating in a research note on Sunday, October 30th.

Shares of Atlantic Coast Financial Corp. (NASDAQ:ACFC) opened at 6.85 on Monday. The stock’s 50 day moving average is $6.53 and its 200 day moving average is $6.30. The stock has a market capitalization of $105.63 million, a PE ratio of 20.76 and a beta of 0.69. Atlantic Coast Financial Corp. has a 52 week low of $5.03 and a 52 week high of $7.04.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Atlantic Coast Financial Corp. by 77.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 19,816 shares of the company’s stock valued at $125,000 after buying an additional 8,628 shares during the period. BlackRock Fund Advisors raised its position in shares of Atlantic Coast Financial Corp. by 143.6% in the second quarter. BlackRock Fund Advisors now owns 29,754 shares of the company’s stock valued at $178,000 after buying an additional 17,538 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Atlantic Coast Financial Corp. by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 99,868 shares of the company’s stock valued at $597,000 after buying an additional 4,669 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Atlantic Coast Financial Corp. during the second quarter valued at approximately $598,000. Finally, Banc Funds Co. LLC raised its position in shares of Atlantic Coast Financial Corp. by 8.8% in the second quarter. Banc Funds Co. LLC now owns 303,311 shares of the company’s stock valued at $1,814,000 after buying an additional 24,600 shares during the period. Hedge funds and other institutional investors own 48.57% of the company’s stock.

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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