Atlantic Coast Financial Corporation (ACFC) Stake Maintained by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust maintained its position in shares of Atlantic Coast Financial Corporation (NASDAQ:ACFC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,594 shares of the bank’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust owned 1.46% of Atlantic Coast Financial Corporation worth $1,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ACFC. Salzhauer Michael raised its stake in shares of Atlantic Coast Financial Corporation by 48.2% in the second quarter. Salzhauer Michael now owns 155,595 shares of the bank’s stock worth $1,220,000 after buying an additional 50,595 shares during the last quarter. EJF Capital LLC raised its stake in shares of Atlantic Coast Financial Corporation by 1.0% in the first quarter. EJF Capital LLC now owns 913,960 shares of the bank’s stock worth $6,964,000 after buying an additional 9,253 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Atlantic Coast Financial Corporation by 6.4% in the first quarter. Renaissance Technologies LLC now owns 254,300 shares of the bank’s stock worth $1,938,000 after buying an additional 15,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Atlantic Coast Financial Corporation by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 114,978 shares of the bank’s stock worth $876,000 after buying an additional 7,155 shares in the last quarter. 48.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Atlantic Coast Financial Corporation (NASDAQ ACFC) opened at 8.05 on Friday. Atlantic Coast Financial Corporation has a 52-week low of $6.11 and a 52-week high of $8.35. The firm’s 50 day moving average price is $7.87 and its 200 day moving average price is $7.75. The stock has a market cap of $124.69 million, a P/E ratio of 20.12 and a beta of 1.12.

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A number of equities analysts have recently weighed in on ACFC shares. Zacks Investment Research downgraded Atlantic Coast Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. FBR & Co downgraded Atlantic Coast Financial Corporation from an “outperform” rating to a “market perform” rating and set a $8.50 price objective on the stock. in a research note on Friday, June 9th.

About Atlantic Coast Financial Corporation

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.

Institutional Ownership by Quarter for Atlantic Coast Financial Corporation (NASDAQ:ACFC)

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