Atlantic Coast Financial (ACFC) Crumbles: Stock Falls by 6.5%

Atlantic Coast Financial Corporation (ACFC) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $3.85–$4.49 in the past one-month time frame, showed a sharp decline yesterday at $4.20.

This South-East Bank has seen a flat track record when it comes to current year estimate revisions over the past few weeks (no increase, no decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

ACFC currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0%.

Some better-ranked stocks in the south eastern banking sector include Capital City Bank Group Inc. (CCBG), 1st United Bancorp, Inc. (FUBC) and Ameris Bancorp (ABCB). While Capital City Bank Group carries a Zacks Rank #1 (Strong Buy), 1st United Bancorp and Ameris Bancorp hold a Zacks Rank #2 (Buy).

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