First Trust Advisors LP raised its holdings in shares of Access National Corporation (NASDAQ:ANCX) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,570 shares of the financial services provider’s stock after buying an additional 5,749 shares during the period. First Trust Advisors LP owned about 0.18% of Access National worth $1,077,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC purchased a new position in shares of Access National during the second quarter valued at approximately $23,123,000. Franklin Resources Inc. boosted its position in shares of Access National by 127.0% during the second quarter. Franklin Resources Inc. now owns 832,389 shares of the financial services provider’s stock valued at $22,075,000 after buying an additional 465,689 shares during the period. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Access National in the second quarter valued at approximately $17,477,000. Vanguard Group Inc. boosted its holdings in shares of Access National by 134.8% in the second quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock valued at $15,974,000 after purchasing an additional 345,782 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Access National by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 402,215 shares of the financial services provider’s stock valued at $10,666,000 after purchasing an additional 28,042 shares during the period. Institutional investors and hedge funds own 37.49% of the company’s stock.
ANCX has been the subject of a number of research reports. BidaskClub upgraded Access National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $29.00 price target on shares of Access National in a report on Tuesday, October 3rd. UBS upgraded Access National from a “market perform” rating to an “outperform” rating in a report on Thursday, October 26th. Raymond James Financial upgraded Access National from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Access National from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.43.
In other Access National news, insider Mark D. Moore acquired 3,972 shares of Access National stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average price of $27.84 per share, with a total value of $110,580.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 4,744 shares of company stock valued at $132,073 in the last three months. 14.23% of the stock is currently owned by insiders.
Shares of Access National Corporation (NASDAQ ANCX) opened at $29.56 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $603.97, a P/E ratio of 21.71 and a beta of 0.98. Access National Corporation has a twelve month low of $24.36 and a twelve month high of $33.18.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 9th were issued a $0.15 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.03%. Access National’s payout ratio is 63.83%.
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Access National Company Profile
Access National Corporation is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank offers a range of financial services and products, and specializes in providing customized financial services to small and medium sized businesses, professionals and associated individuals.
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