Access National Co. (NASDAQ:ANCX) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $30.50.
Several research firms have weighed in on ANCX. BidaskClub downgraded shares of Access National from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Raymond James downgraded shares of Access National from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. Stephens restated a “buy” rating and set a $31.00 price objective on shares of Access National in a report on Tuesday, July 31st. Finally, Maxim Group restated a “buy” rating and set a $31.00 price objective (down previously from $33.00) on shares of Access National in a report on Monday, July 30th.
NASDAQ ANCX traded down $0.06 on Friday, hitting $27.35. 52,632 shares of the company were exchanged, compared to its average volume of 40,862. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Access National has a 12 month low of $25.07 and a 12 month high of $30.99. The firm has a market cap of $573.59 million, a PE ratio of 16.99 and a beta of 0.64.
Access National (NASDAQ:ANCX) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Access National had a return on equity of 8.06% and a net margin of 19.04%. The business had revenue of $32.11 million for the quarter, compared to analyst estimates of $32.20 million. equities analysts predict that Access National will post 1.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Thursday, August 9th were issued a dividend of $0.16 per share. This is an increase from Access National’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.64 annualized dividend and a yield of 2.34%. Access National’s dividend payout ratio is presently 39.75%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of Access National by 35.9% in the second quarter. Janus Henderson Group PLC now owns 1,043,394 shares of the financial services provider’s stock valued at $29,841,000 after purchasing an additional 275,482 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Access National by 52.3% in the first quarter. The Manufacturers Life Insurance Company now owns 664,488 shares of the financial services provider’s stock valued at $18,958,000 after purchasing an additional 228,084 shares during the last quarter. Pwmco LLC purchased a new stake in shares of Access National in the second quarter valued at about $4,392,000. Wells Fargo & Company MN raised its holdings in shares of Access National by 62.9% in the first quarter. Wells Fargo & Company MN now owns 345,906 shares of the financial services provider’s stock valued at $9,868,000 after purchasing an additional 133,595 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Access National by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 537,698 shares of the financial services provider’s stock valued at $15,378,000 after purchasing an additional 96,179 shares during the last quarter. Hedge funds and other institutional investors own 43.91% of the company’s stock.
About Access National
Access National Corporation operates as the bank holding company for Access National Bank that provides credit, deposit, mortgage, and wealth management services to small and medium sized businesses, professionals, and associated individuals primarily in the greater Washington, DC Metropolitan Area. The company operates through three segments: Commercial Banking, Mortgage Banking, and Wealth Management.
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