Access National Corporation (ANCX) Given Average Rating of “Hold” by Brokerages
Access National Corporation (NASDAQ:ANCX) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.43.
Several equities research analysts have commented on ANCX shares. Zacks Investment Research upgraded shares of Access National Corporation from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday, October 27th. Raymond James Financial, Inc. raised Access National Corporation from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Thursday, October 26th. UBS AG raised Access National Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 price target on shares of Access National Corporation in a research note on Sunday, November 5th. Finally, Stephens assumed coverage on Access National Corporation in a research note on Thursday. They set an “overweight” rating and a $31.00 price target for the company.
In other news, Director J Randolph Babbitt bought 4,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $25.53 per share, with a total value of $104,673.00. Following the purchase, the director now owns 9,126 shares of the company’s stock, valued at approximately $232,986.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 4,955 shares of company stock valued at $126,168 in the last three months. 14.23% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Access National Corporation by 6.4% in the 3rd quarter. Janus Henderson Group PLC now owns 926,679 shares of the financial services provider’s stock valued at $26,559,000 after buying an additional 55,409 shares during the period. Franklin Resources Inc. grew its holdings in Access National Corporation by 127.0% in the 2nd 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 during the period. Bronfman E.L. Rothschild L.P. grew its holdings in Access National Corporation by 2.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 677,405 shares of the financial services provider’s stock valued at $19,414,000 after buying an additional 18,387 shares during the period. Vanguard Group Inc. grew its holdings in Access National Corporation by 134.8% in the 2nd 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 during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Access National Corporation by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 402,215 shares of the financial services provider’s stock valued at $10,666,000 after buying an additional 28,042 shares during the period. Institutional investors own 36.99% of the company’s stock.
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Shares of Access National Corporation (NASDAQ:ANCX) opened at $28.44 on Monday. The company has a market cap of $581.68, a price-to-earnings ratio of 20.91 and a beta of 0.98. Access National Corporation has a 1 year low of $24.36 and a 1 year high of $33.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, November 8th. Access National Corporation’s payout ratio is 63.83%.
Access National Corporation Company Profile
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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