Access National Corporation (ANCX) Receives Consensus Rating of “Hold” from Brokerages
Access National Corporation (NASDAQ:ANCX) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $28.67.
A number of equities research analysts have recently issued reports on ANCX shares. Sandler O’Neill started coverage on shares of Access National Corporation in a report on Monday, April 17th. They issued a “hold” rating and a $30.00 price target on the stock. Zacks Investment Research cut shares of Access National Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th.
In other news, Director Mark D. Moore bought 1,500 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $28.05 per share, for a total transaction of $42,075.00. Following the completion of the acquisition, the director now owns 11,964 shares of the company’s stock, valued at $335,590.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought 2,287 shares of company stock worth $63,584 in the last 90 days. Company insiders own 24.31% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ANCX. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Access National Corporation during the second quarter valued at about $17,477,000. Franklin Resources Inc. boosted its position in shares of Access National Corporation by 127.0% in the second quarter. Franklin Resources Inc. now owns 832,389 shares of the financial services provider’s stock valued at $22,075,000 after buying an additional 465,689 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Access National Corporation by 134.8% in the second quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock valued at $15,974,000 after buying an additional 345,782 shares in the last quarter. RE Advisers Corp purchased a new position in shares of Access National Corporation during the second quarter valued at about $2,449,000. Finally, Northern Trust Corp boosted its position in shares of Access National Corporation by 88.5% in the second quarter. Northern Trust Corp now owns 193,646 shares of the financial services provider’s stock valued at $5,135,000 after buying an additional 90,908 shares in the last quarter. Hedge funds and other institutional investors own 23.60% of the company’s stock.
Shares of Access National Corporation (NASDAQ ANCX) traded up 2.27% during midday trading on Friday, hitting $25.73. 11,459 shares of the company traded hands. Access National Corporation has a 52 week low of $21.02 and a 52 week high of $33.18. The stock has a 50 day moving average of $26.51 and a 200-day moving average of $27.55. The stock has a market capitalization of $524.33 million, a PE ratio of 24.37 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, August 10th. Access National Corporation’s payout ratio is currently 59.41%.
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About Access National Corporation
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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