Atlantic Coast Financial Corporation (ACFC) : The consensus on Atlantic Coast Financial Corporation (ACFC) based on 1 analyst recommendation on the company stock is 1, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels.
For this week, the average consensus of the company shares are rated as a Strong Buy. Atlantic Coast Financial Corporation (NASDAQ:ACFC): The stock opened at $6.01 on Thursday but the bulls could not build on the opening and the stock topped out at $6.01 for the day. The stock traded down to $5.91 during the day, due to lack of any buying support eventually closed down at $5.95 with a loss of -0.17% for the day. The stock had closed at $5.96 on the previous day. The total traded volume was 4,749 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP/CCO) of Atlantic Coast Financial Corp, Buddenbohm Phillip S, had purchased 1,600 shares in a transaction dated on August 26, 2015. The transaction was executed at $6 per share with total amount equaling $9,600.
Atlantic Coast Financial Corporation is a thrift holding company. The Companys 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 Banks 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. Substantially all loans are secured by specific items of collateral, including business assets, consumer assets, and commercial and residential real estate. Commercial loans are generally expected to be repaid from the cash flows from the operations of the business.