Access National (NASDAQ:ANCX) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Access National (NASDAQ:ANCX) from a sell rating to a hold rating in a report released on Tuesday, March 6th.

A number of other equities analysts have also recently commented on ANCX. Stephens started coverage on shares of Access National in a research report on Thursday, November 16th. They issued an overweight rating and a $31.00 target price on the stock. Zacks Investment Research cut shares of Access National from a buy rating to a hold rating in a research report on Tuesday, December 26th. Finally, Sandler O’Neill set a $30.00 price objective on shares of Access National and gave the company a hold rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $31.00.

NASDAQ:ANCX traded down $0.39 during trading hours on Tuesday, reaching $28.53. The company’s stock had a trading volume of 185,911 shares, compared to its average volume of 51,572. The stock has a market cap of $585.84, a PE ratio of 19.02 and a beta of 0.85. Access National has a 1 year low of $24.36 and a 1 year high of $32.70. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.14.

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

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in shares of Access National by 3.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 436,404 shares of the financial services provider’s stock valued at $12,149,000 after acquiring an additional 13,053 shares during the period. Vanguard Group Inc. boosted its stake in shares of Access National by 134.8% during the 2nd quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock valued at $15,974,000 after purchasing an additional 345,782 shares in the last quarter. Penn Capital Management Co. Inc. boosted its stake in shares of Access National by 6.6% during the 4th quarter. Penn Capital Management Co. Inc. now owns 153,184 shares of the financial services provider’s stock valued at $4,265,000 after purchasing an additional 9,507 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Access National by 73.9% during the 2nd quarter. California Public Employees Retirement System now owns 56,346 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 23,946 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Access National by 129.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 54,447 shares of the financial services provider’s stock valued at $1,561,000 after purchasing an additional 30,723 shares in the last quarter. Hedge funds and other institutional investors own 36.95% of the company’s stock.

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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.

Analyst Recommendations for Access National (NASDAQ:ANCX)

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