(NASDAQ:ACFC) shares saw heavy trading volume with 16K shares changing hands by the end of trading on Wednesday. Overall, volume was up 85.10% over the stocks normal daily volume.
Short traders are feeling a little more bullish on Atlantic Coast Finl as implied by the fall in short interest. The firm recorded a fall in short interest between September 29, 2017 and October 13, 2017 of -12.65%. Short interest fell 3,290 over that timeframe. The short-interest ratio increased to 3.0 and the short interest percentage is 0.00% as of October 13.
These firms have modified their investment in ACFC. As of the end of the quarter Fj Capital Management LLC had bought a total of 13,600 shares growing its position 0.9%. The value of the company’s investment in Atlantic Coast Finl went from $11,561,000 to $12,001,000 a change of $440,000 since the last quarter. As of quarter end Alliancebernstein L.P. had disposed of 103,358 shares trimming its stake by 44.8%. The value of the investment in Atlantic Coast Finl decreased from $1,808,000 to $1,121,000 decreasing 38.0% quarter over quarter.
As of the end of the quarter Dimensional Fund Advisors Lp had bought a total of 47,430 shares growing its holdings by 40.1%. The value of the investment in (ACFC) increased from $945,000 to $1,460,000 a change of 54.5% quarter to quarter. As of the end of the quarter Renaissance Technologies LLC had acquired a total of 34,800 shares growing its position 13.7%. The value of the investment in ACFC increased from $1,984,000 to $2,536,000 a change of $552,000 for the reporting period.
On October 30 FBR & Co held the stock rating at “Hold” projecting a price of $8.50.
The company is so far trading up since yesterday’s close of 8.56. The most current P/E ratio is 22.88 and the market cap of the company is 133.30M. In the last earnings report the EPS was $0.37 with 15.55M shares now outstanding.
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..