Access National Corp. Plans Quarterly Dividend of $0.15 (ANCX)
Access National Corp. (NASDAQ:ANCX) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Monday, October 31st will be paid a dividend of 0.15 per share by the financial services provider on Friday, November 25th. This represents a $0.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 27th.
Shares of Access National Corp. (NASDAQ:ANCX) traded up 0.41% during midday trading on Tuesday, reaching $24.65. 21,155 shares of the company’s stock were exchanged. The company’s 50-day moving average is $23.47 and its 200-day moving average is $21.23. Access National Corp. has a one year low of $16.26 and a one year high of $25.05. The stock has a market cap of $260.97 million, a P/E ratio of 15.50 and a beta of 0.81.
Access National Corp. (NASDAQ:ANCX) last announced its quarterly earnings results on Monday, October 17th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Access National Corp. had a return on equity of 14.99% and a net margin of 22.27%. Equities analysts expect that Access National Corp. will post $1.57 earnings per share for the current fiscal year.
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In other Access National Corp. news, Director Mark D. Moore bought 1,313 shares of Access National Corp. stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $21.50 per share, with a total value of $28,229.50. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $107,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark D. Moore bought 3,287 shares of Access National Corp. stock in a transaction dated Monday, July 25th. The shares were acquired at an average cost of $21.67 per share, with a total value of $71,229.29. Following the completion of the purchase, the director now owns 3,687 shares in the company, valued at $79,897.29. The disclosure for this purchase can be found here. Insiders own 24.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Access National Corp. by 7.8% in the second quarter. State Street Corp now owns 77,546 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 5,609 shares during the last quarter. Ativo Capital Management LLC increased its position in Access National Corp. by 80.6% in the second quarter. Ativo Capital Management LLC now owns 44,808 shares of the financial services provider’s stock valued at $874,000 after buying an additional 20,000 shares in the last quarter. Teachers Advisors Inc. increased 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. BlackRock Fund Advisors increased its position in Access National Corp. by 10.8% in the second quarter. BlackRock Fund Advisors now owns 212,288 shares of the financial services provider’s stock valued at $4,142,000 after buying an additional 20,720 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its position in Access National Corp. by 18.4% in the second quarter. BlackRock Investment Management LLC now owns 33,256 shares of the financial services provider’s stock valued at $649,000 after buying an additional 5,171 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on ANCX. FBR & Co reissued a “hold” rating on shares of Access National Corp. in a report on Monday, July 18th. Maxim Group began coverage on Access National Corp. in a report on Thursday, August 25th. They issued a “buy” rating and a $21.50 price target for the company. Zacks Investment Research downgraded Access National Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 19th. Raymond James Financial Inc. raised Access National Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Thursday, August 25th. Finally, Citigroup Inc. downgraded Access National Corp. to a “market perform” rating in a report on Monday, July 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Access National Corp. presently has an average rating of “Buy” and an average price target of $21.10.
Access National Corp. Company Profile
Access National Corporation is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage services and wealth management services to middle market commercial businesses and associated professionals, primarily in the Washington, District of Columbia Metropolitan Area.
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