Motley Fool Asset Management LLC continued to hold its stake in Access National Corporation (NASDAQ:ANCX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,529 shares of the financial services provider’s stock at the close of the 2nd quarter. Motley Fool Asset Management LLC owned about 0.44% of Access National Corporation worth $2,401,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ANCX. American International Group Inc. grew its stake in Access National Corporation by 6.8% in the first quarter. American International Group Inc. now owns 5,014 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 321 shares during the period. Nationwide Fund Advisors grew its stake in Access National Corporation by 17.6% in the first quarter. Nationwide Fund Advisors now owns 5,384 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 807 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Access National Corporation in the second quarter valued at approximately $229,000. Russell Investments Group Ltd. grew its stake in Access National Corporation by 160.9% in the second quarter. Russell Investments Group Ltd. now owns 10,980 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 6,772 shares during the period. Finally, Palladium Partners LLC acquired a new stake in Access National Corporation in the second quarter valued at approximately $353,000. 36.86% of the stock is owned by hedge funds and other institutional investors.
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ANCX has been the subject of a number of research reports. Zacks Investment Research raised Access National Corporation from a “sell” rating to a “hold” rating in a research note on Monday, June 26th. BidaskClub raised Access National Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.67.
In other Access National Corporation news, Director J Randolph Babbitt bought 4,100 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average cost of $25.53 per share, for a total transaction of $104,673.00. Following the purchase, the director now owns 9,126 shares in the company, valued at approximately $232,986.78. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have acquired 4,955 shares of company stock worth $126,168. Company insiders own 14.23% of the company’s stock.
Access National Corporation (NASDAQ:ANCX) opened at 27.25 on Friday. The firm has a 50-day moving average price of $25.55 and a 200 day moving average price of $27.22. Access National Corporation has a 52-week low of $22.73 and a 52-week high of $33.18. The stock has a market cap of $555.65 million, a PE ratio of 25.80 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.60 annualized dividend and a yield of 2.20%. Access National Corporation’s dividend payout ratio is 59.41%.
About Access National Corporation
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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