Keefe, Bruyette & Woods reiterated their hold rating on shares of Access National Corporation (NASDAQ:ANCX) in a research report released on Sunday morning. They currently have a $30.00 target price on the financial services provider’s stock.
ANCX has been the subject of a number of other research reports. Raymond James Financial, Inc. upgraded Access National Corporation from a market perform rating to an outperform rating and set a $31.00 target price for the company in a report on Thursday, October 26th. Zacks Investment Research upgraded Access National Corporation from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Friday, October 27th. BidaskClub upgraded Access National Corporation from a strong sell rating to a sell rating in a report on Saturday, August 26th. UBS AG upgraded Access National Corporation from a market perform rating to an outperform rating in a report on Thursday, October 26th. Finally, Maxim Group restated a buy rating and set a $33.00 target price (up previously from $32.00) on shares of Access National Corporation in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $31.50.
Access National Corporation (NASDAQ ANCX) opened at $27.16 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $563.19, a P/E ratio of 20.25 and a beta of 0.98. Access National Corporation has a twelve month low of $22.91 and a twelve month high of $33.18.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.21%. Access National Corporation’s dividend payout ratio is presently 63.83%.
In other news, Director J Randolph Babbitt purchased 4,100 shares of Access National Corporation stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $25.53 per share, with a total value of $104,673.00. Following the completion of the purchase, the director now directly owns 9,126 shares in the company, valued at $232,986.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 4,955 shares of company stock worth $126,168. 14.23% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new stake in Access National Corporation in the second quarter worth $23,123,000. Franklin Resources Inc. grew its stake in Access National Corporation by 127.0% in the second quarter. Franklin Resources Inc. now owns 832,389 shares of the financial services provider’s stock worth $22,075,000 after purchasing an additional 465,689 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in Access National Corporation by 2.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 677,405 shares of the financial services provider’s stock worth $19,414,000 after purchasing an additional 18,387 shares during the period. Vanguard Group Inc. grew its stake in Access National Corporation by 134.8% in the second quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock worth $15,974,000 after purchasing an additional 345,782 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Access National Corporation by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 402,215 shares of the financial services provider’s stock worth $10,666,000 after purchasing an additional 28,042 shares during the period. 36.88% of the stock is currently owned by institutional investors.
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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