Atlantic Coast Financial Corp (ACFC) is Reiterated by FBR Capital to Outperform, Raises Price Target to $ 8

Atlantic Coast Financial Corp (ACFC) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $7.50 . FBR Capital advised their investors in a research report released on Aug 23, 2016.

Atlantic Coast Financial Corp closed down -0.05 points or -0.81% at $6.14 with 13,217 shares getting traded on Friday. Post opening the session at $6.1406, the shares hit an intraday low of $6.14 and an intraday high of $6.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 27, 2015, Phillip S Buddenbohm (EVP/CCO) purchased 1,600 shares at $6.00 per share price. According to the SEC, on Aug 21, 2015, John Kenneth Jr. Stephens (CEO) purchased 10,000 shares at $6.20 per share price. On Aug 10, 2015, Tracy L Keegan (CFO) purchased 596 shares at $5.06 per share price, according to the Form-4 filing with the securities and exchange commission.

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. 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.

Atlantic Coast Financial Corp

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