Short Interest Update on Atlantic Coast Financial Corporation (ACFC)

Atlantic Coast Financial Corporation (ACFC) : The bears are holding on to their shorts in Accenture Plc with 1 more days remaining for them to cover their positions. The bearish positions have increased from 9,777 on Jul 29, 2016, to 12,257, on August 15, 2016. Daily, 13,789 shares are traded, which shows the high interest of the traders in the stock. The net addition of short open interest is 2,480 shares, which is an increase of just 25.4%. The total short interest of 0.1% of the float indicates that there arent many bears on this stock at the current prices. The short interest information was released on Wednesday Aug 24th after the market close.

Atlantic Coast Financial Corporation (NASDAQ:ACFC): The stock opened at $6.42 on Wednesday but the bulls could not build on the opening and the stock topped out at $6.42 for the day. The stock traded down to $6.23 during the day, due to lack of any buying support eventually closed down at $6.23 with a loss of -0.80% for the day. The stock had closed at $6.28 on the previous day. The total traded volume was 6,244 shares.


In a related news, Buddenbohm Phillip S, officer (EVP/CCO) of Atlantic Coast Financial Corp had purchased 1,600 shares on August 26, 2015 in a transaction. The price per share was $6 and the total amount of the disclosed transaction was $9,600.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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.

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