Access National (ANCX) Stock Rating Lowered by Zacks Investment Research

Access National (NASDAQ:ANCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Access National Corporation serves as the holding company for Access National Bank and its subsidiaries, Access National Mortgage Corporation and Access National Leasing Corporation. “

ANCX has been the subject of several other research reports. Maxim Group reissued a “buy” rating and set a $33.00 target price (up previously from $32.00) on shares of Access National in a research note on Monday, October 30th. BidaskClub cut Access National from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Sandler O’Neill set a $30.00 target price on Access National and gave the stock a “hold” rating in a research note on Thursday, January 4th. Stephens initiated coverage on Access National in a research note on Thursday, November 16th. They set an “overweight” rating and a $31.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $30.00 target price on shares of Access National in a research note on Sunday, November 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $31.00.

Access National (NASDAQ ANCX) traded up $0.04 during trading hours on Tuesday, hitting $28.41. The company had a trading volume of 33,600 shares, compared to its average volume of 36,370. Access National has a 12-month low of $24.36 and a 12-month 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 firm has a market capitalization of $582.55, a PE ratio of 35.07 and a beta of 0.84.

Access National (NASDAQ:ANCX) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $32.59 million during the quarter, compared to analysts’ expectations of $31.77 million. Access National had a return on equity of 8.72% and a net margin of 11.96%. sell-side analysts forecast that Access National will post 1.95 EPS for the current year.

In other news, insider Mark D. Moore acquired 3,972 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was acquired at an average cost of $27.84 per share, with a total value of $110,580.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 4,744 shares of company stock valued at $132,073 over the last ninety days. Insiders own 14.23% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ANCX. California State Teachers Retirement System grew its stake in shares of Access National by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 13,422 shares of the financial services provider’s stock valued at $275,000 after buying an additional 148 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Access National by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 269,609 shares of the financial services provider’s stock valued at $5,516,000 after buying an additional 3,074 shares in the last quarter. First Manhattan Co. grew its stake in shares of Access National by 2.0% in the first quarter. First Manhattan Co. now owns 125,267 shares of the financial services provider’s stock valued at $2,484,000 after buying an additional 2,500 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Access National by 38.2% in the first quarter. Motley Fool Asset Management LLC now owns 90,529 shares of the financial services provider’s stock valued at $1,795,000 after buying an additional 25,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Access National by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 23,183 shares of the financial services provider’s stock valued at $460,000 after buying an additional 1,078 shares in the last quarter. 37.38% of the stock is owned by institutional investors and hedge funds.

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About Access National

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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