The Access National Corp. (ANCX) Receives Consensus Recommendation of “Buy” from Brokerages

The Access National Corp. (ANCX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Access National Corp. (NASDAQ:ANCX) have received a consensus rating of “Buy” from the six brokerages that are covering the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.80.

Several analysts have recently weighed in on the stock. Maxim Group lifted their price target on shares of Access National Corp. from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. Zacks Investment Research raised shares of Access National Corp. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, October 19th. FBR & Co raised shares of Access National Corp. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $29.00 in a research note on Tuesday, October 25th. Raymond James Financial Inc. downgraded shares of Access National Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 18th. Finally, Citigroup Inc. downgraded shares of Access National Corp. to a “market perform” rating in a research note on Monday, July 18th. They noted that the move was a valuation call.

In other news, Director Mark D. Moore purchased 1,313 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $21.50 per share, with a total value of $28,229.50. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $107,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 24.31% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. American Research & Management Co. raised its position in Access National Corp. by 64.1% in the second quarter. American Research & Management Co. now owns 6,399 shares of the financial services provider’s stock valued at $125,000 after buying an additional 2,500 shares in the last quarter. Teachers Advisors Inc. raised its position in Access National Corp. by 15.5% in the second quarter. Teachers Advisors Inc. now owns 11,597 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,556 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Access National Corp. during the second quarter valued at about $261,000. Schwab Charles Investment Management Inc. purchased a new position in Access National Corp. during the second quarter valued at about $276,000. Finally, California State Teachers Retirement System raised its position in Access National Corp. by 11.0% in the second quarter. California State Teachers Retirement System now owns 17,118 shares of the financial services provider’s stock valued at $334,000 after buying an additional 1,692 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Access National Corp. (NASDAQ:ANCX) opened at 23.39 on Wednesday. Access National Corp. has a 52 week low of $16.26 and a 52 week high of $26.76. The firm’s 50-day moving average price is $23.99 and its 200 day moving average price is $21.55. The stock has a market capitalization of $248.17 million, a P/E ratio of 14.35 and a beta of 0.81.

Access National Corp. (NASDAQ:ANCX) last posted its quarterly earnings results on Monday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Access National Corp. had a net margin of 21.78% and a return on equity of 15.21%. Analysts expect that Access National Corp. will post $1.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Monday, October 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, October 27th. Access National Corp.’s dividend payout ratio (DPR) is 36.81%.

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