First Trust Advisors LP raised its holdings in shares of Access National Corporation (NASDAQ:ANCX) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,570 shares of the financial services provider’s stock after acquiring 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.
Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Access National by 53.1% in the second quarter. Royal Bank of Canada now owns 5,413 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,877 shares during the last quarter. Nationwide Fund Advisors grew its holdings in shares of Access National by 53.9% in the second quarter. Nationwide Fund Advisors now owns 8,288 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 2,904 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Access National by 25.2% in the second quarter. Private Advisor Group LLC now owns 17,411 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,508 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Access National by 33.3% in the second quarter. New York State Common Retirement Fund now owns 15,197 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 3,796 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Access National by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 16,475 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 4,621 shares during the last quarter. Institutional investors and hedge funds own 37.49% of the company’s stock.
Access National Corporation (NASDAQ ANCX) opened at $28.67 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $582.09, a price-to-earnings ratio of 20.93 and a beta of 0.98. Access National Corporation has a 52-week low of $24.36 and a 52-week high of $33.18.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, November 8th. Access National’s dividend payout ratio is currently 63.83%.
Several brokerages have recently issued reports on ANCX. BidaskClub cut shares of Access National from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Stephens started coverage on Access National in a research note on Thursday, November 16th. They issued an “overweight” rating and a $31.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price target on shares of Access National in a research note on Sunday, November 5th. Maxim Group reaffirmed a “buy” rating and issued a $33.00 price target (up previously from $32.00) on shares of Access National in a research note on Monday, October 30th. Finally, Zacks Investment Research raised Access National from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Access National presently has an average rating of “Hold” and an average target price of $31.43.
In other news, insider Mark D. Moore acquired 3,972 shares of the stock in a transaction on Friday, November 24th. The stock was acquired at an average price of $27.84 per share, with a total value of $110,580.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 4,744 shares of company stock valued at $132,073 in the last three months. Insiders own 14.23% of the company’s stock.
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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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