Zacks Investment Research downgraded shares of Access National (NASDAQ:ANCX) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Access National Corporation serves as the holding company for Access National Bank and its subsidiaries, Access National Mortgage Corporation and Access National Leasing Corporation. “
A number of other research analysts have also recently weighed in on ANCX. BidaskClub upgraded shares of Access National from a sell rating to a hold rating in a research report on Friday, February 9th. Maxim Group reiterated a buy rating and set a $33.00 price objective (up previously from $32.00) on shares of Access National in a research report on Monday, October 30th. UBS Group upgraded shares of Access National from a market perform rating to an outperform rating in a research report on Thursday, October 26th. Sandler O’Neill set a $30.00 price objective on shares of Access National and gave the company a hold rating in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $30.00 price objective on shares of Access National in a research report on Sunday, November 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $31.00.
Shares of Access National (NASDAQ ANCX) opened at $28.43 on Tuesday. The stock has a market cap of $583.38, a price-to-earnings ratio of 18.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.90. Access National has a 12 month low of $24.36 and a 12 month high of $33.18.
Access National (NASDAQ:ANCX) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Access National had a net margin of 11.96% and a return on equity of 8.72%. The business had revenue of $32.59 million for the quarter, compared to analysts’ expectations of $31.77 million. equities analysts forecast that Access National will post 1.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 9th. Access National’s dividend payout ratio (DPR) is 74.07%.
In related news, insider Mark D. Moore purchased 3,972 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were purchased at an average cost of $27.84 per share, for a total transaction of $110,580.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 4,744 shares of company stock worth $132,073. Company insiders own 14.23% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $15,974,000 after purchasing an additional 345,782 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Access National by 73.9% in the second quarter. California Public Employees Retirement System now owns 56,346 shares of the financial services provider’s stock worth $1,494,000 after purchasing an additional 23,946 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Access National by 113.4% in the second quarter. JPMorgan Chase & Co. now owns 35,080 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 18,640 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Access National by 67.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,724 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 9,586 shares during the last quarter. Finally, Alliancebernstein L.P. bought a new position in shares of Access National in the second quarter worth about $289,000. Hedge funds and other institutional investors own 37.38% 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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