Shares last traded at $9.00 which is a tad above the 50 day moving average which is $8.56 and impressively higher than the 200 day moving average of $8.02. The 50 day moving average went up by +5.19% whereas the 200 day average was up by +12.15%. Trading volume for Atlantic Coast Financial Corpor was 439 by the end of trading on Tuesday. Trading volume was down 94.14% under the stocks average daily volume.
Traders are feeling more bullish on shares of the company if you look at the downtick in short interest. The firm recorded a fall in short interest from September 15, 2017 to September 29, 2017 of -2.94%. Short shares decreased 789 over that period. The days to cover decreased to 1.0 and the percentage of shorted shares is 0.00% as of September 29.
These firms have modified their investment in ACFC. As of quarter end Tower Research Capital LLC (trc) had sold 22 shares trimming its holdings by 11.0%. The value of the investment in (ACFC) went from $2,000 to $1,000 a change of 50.0% since the last quarter. As of the end of the quarter Pl Capital Advisors, LLC had acquired a total of 5,032 shares growing its stake by 0.5%. The value of the investment in Atlantic Coast Financial Corpor increased from $7,694,000 to $7,955,000 a change of $261,000 for the reporting period.
Ubs Group Ag cut its holdings by selling 215 shares a decrease of 9.0%. Ubs Group Ag now holds 2,177 shares worth $17,000. The value of the position overall is down by 5.6%. As of the end of the quarter Fj Capital Management LLC had acquired 13,600 shares growing its position 0.9%. The value of the investment in ACFC went from $11,561,000 to $12,001,000 increasing 3.8% quarter over quarter.
The P/E ratio is currently 22.50 and the market cap of the company is 139.40M. In the last earnings report the EPS was $0.40 and is expected to be $0.35 for the current year with 15,489,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.10 with next year’s EPS anticipated to be $0.52.
Atlantic Coast Financial Corporation, launched on June 22, 2007, 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. The Bank focuses on attracting deposits and investing those funds primarily in loans, including commercial real estate loans, consumer loans, first mortgages on owner-occupied, one- to four-family residences and home equity loans. Additionally, the Bank invests funds in multi-family residential loans, commercial business loans, and commercial and residential construction loans..