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

Access National (NASDAQ:ANCX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $31.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.13% from the company’s previous close.

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. “

Several other equities research analysts have also issued reports on ANCX. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $29.00 price target on shares of Access National in a report on Tuesday, October 3rd. UBS Group upgraded Access National from a “market perform” rating to an “outperform” rating in a report on Thursday, October 26th. Raymond James Financial upgraded Access National from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Thursday, October 26th. Maxim Group reiterated a “buy” rating and set a $33.00 price target (up from $32.00) on shares of Access National in a report on Monday, October 30th. Finally, Stephens initiated coverage on Access National in a report on Thursday, November 16th. They issued an “overweight” rating and a $31.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $31.00.

Shares of Access National (NASDAQ:ANCX) opened at $28.67 on Tuesday. The stock has a market capitalization of $586.56, a PE ratio of 27.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.90. Access National has a 1-year low of $24.36 and a 1-year high of $33.18.

In other Access National news, insider Mark D. Moore purchased 3,972 shares of the company’s stock in a transaction on Friday, November 24th. The shares were bought at an average cost of $27.84 per share, with a total value of $110,580.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 4,744 shares of company stock worth $132,073. Company insiders own 14.23% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANCX. Russell Investments Group Ltd. increased its position in shares of Access National by 160.9% during the second quarter. Russell Investments Group Ltd. now owns 10,980 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 6,772 shares during the period. Schwab Charles Investment Management Inc. grew its position in Access National by 67.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,724 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 9,586 shares during the period. First Trust Advisors LP grew its position in Access National by 61.2% in the second quarter. First Trust Advisors LP now owns 31,821 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 12,076 shares during the period. Rhumbline Advisers grew its position in Access National by 93.2% in the second quarter. Rhumbline Advisers now owns 15,827 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 7,635 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Access National by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 100,991 shares of the financial services provider’s stock valued at $2,678,000 after acquiring an additional 14,033 shares during the period. Institutional investors and hedge funds own 37.49% 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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