BidaskClub downgraded shares of Access National (NASDAQ:ANCX) from a hold rating to a sell rating in a research report report published on Friday morning.
Several other equities analysts have also issued reports on ANCX. Zacks Investment Research lowered shares of Access National from a buy rating to a hold rating in a report on Tuesday. Maxim Group reiterated a buy rating and set a $33.00 target price (up from $32.00) on shares of Access National in a report on Monday, October 30th. UBS Group upgraded shares of Access National from a market perform rating to an outperform rating in a report on Thursday, October 26th. Sandler O’Neill set a $30.00 target price on shares of Access National and gave the company a hold rating in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $30.00 target price on shares of Access National in a report on Sunday, November 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $31.00.
Access National (ANCX) traded up $0.15 during mid-day trading on Friday, hitting $28.77. 21,407 shares of the stock traded hands, compared to its average volume of 43,938. Access National has a 1 year low of $24.36 and a 1 year high of $33.18. The stock has a market capitalization of $587.69, a price-to-earnings ratio of 35.52 and a beta of 0.84. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.14.
Access National (NASDAQ:ANCX) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $32.59 million during the quarter, compared to analyst estimates of $31.77 million. analysts forecast that Access National will post 1.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 9th. This represents a $0.60 dividend on an annualized basis and a yield of 2.09%. Access National’s payout ratio is currently 74.07%.
In other news, insider Mark D. Moore acquired 3,972 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average cost of $27.84 per share, for a total transaction of $110,580.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 4,744 shares of company stock valued at $132,073. 14.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ANCX. Vanguard Group Inc. raised its holdings in Access National by 134.8% in the 2nd quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock worth $15,974,000 after acquiring an additional 345,782 shares during the last quarter. State Street Corp raised its holdings in Access National by 104.9% in the 2nd quarter. State Street Corp now owns 239,989 shares of the financial services provider’s stock worth $6,366,000 after acquiring an additional 122,875 shares during the last quarter. Northern Trust Corp raised its holdings in Access National by 88.5% in the 2nd quarter. Northern Trust Corp now owns 193,646 shares of the financial services provider’s stock worth $5,135,000 after acquiring an additional 90,908 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Access National by 6.4% in the 3rd quarter. Janus Henderson Group PLC now owns 926,679 shares of the financial services provider’s stock worth $26,559,000 after acquiring an additional 55,409 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Access National by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 324,215 shares of the financial services provider’s stock worth $8,599,000 after acquiring an additional 46,935 shares during the last quarter. Institutional investors own 37.38% of the company’s stock.
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About Access National
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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