BidaskClub upgraded shares of Access National (NASDAQ:ANCX) from a hold rating to a buy rating in a report published on Tuesday.
Separately, Zacks Investment Research cut shares of Access National from a hold rating to a sell rating in a report on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $31.00.
ANCX opened at $29.62 on Tuesday. The firm has a market capitalization of $603.24 million, a P/E ratio of 18.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.90. Access National has a 12-month low of $24.36 and a 12-month high of $30.99.
Access National (NASDAQ:ANCX) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). The company had revenue of $30.64 million during the quarter, compared to analyst estimates of $32.01 million. Access National had a net margin of 15.48% and a return on equity of 7.79%. equities research analysts anticipate that Access National will post 1.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Thursday, May 10th were issued a $0.15 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $0.60 annualized dividend and a yield of 2.03%. Access National’s dividend payout ratio is presently 37.27%.
In related news, CEO Michael W. Clarke purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were purchased at an average cost of $27.61 per share, with a total value of $110,440.00. Following the completion of the acquisition, the chief executive officer now directly owns 716,380 shares of the company’s stock, valued at approximately $19,779,251.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 4,807 shares of company stock worth $132,552 over the last ninety days. 14.08% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of ANCX. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Access National during the fourth quarter worth $141,000. MetLife Investment Advisors LLC acquired a new stake in shares of Access National during the fourth quarter worth $197,000. Sandy Spring Bank raised its holdings in shares of Access National by 128.3% during the first quarter. Sandy Spring Bank now owns 9,119 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 5,124 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Access National during the fourth quarter worth $291,000. Finally, United Capital Financial Advisers LLC acquired a new stake in shares of Access National during the first quarter worth $292,000. 39.76% of the stock is currently owned by institutional investors.
About Access National
Access National Corporation operates as the bank holding company for Access National Bank that provides credit, deposit, mortgage, and wealth management services to small and medium sized businesses, professionals, and associated individuals primarily in the greater Washington, DC Metropolitan Area. The company operates through three segments: Commercial Banking, Mortgage Banking, and Wealth Management.
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