Access National (ANCX) Downgraded by Zacks Investment Research to “Hold”

Access National (NASDAQ:ANCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, January 8th.

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. “

ANCX has been the topic of several other research reports. BidaskClub downgraded Access National from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Stephens assumed coverage on Access National in a report on Thursday, November 16th. They set an “overweight” rating and a $31.00 price target on the stock. 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. Raymond James Financial upgraded Access National from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Thursday, October 26th. Finally, UBS Group upgraded Access National from a “market perform” rating to an “outperform” rating in a report on Thursday, October 26th. 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 stock. Access National presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Access National (NASDAQ ANCX) opened at $28.90 on Monday. Access National has a twelve month low of $24.36 and a twelve month high of $33.18. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $592.36, a P/E ratio of 27.52 and a beta of 0.95.

In other Access National news, insider Mark D. Moore acquired 3,972 shares of Access National stock in a transaction dated Friday, November 24th. The stock was bought at an average cost of $27.84 per share, with a total value of $110,580.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 4,744 shares of company stock valued at $132,073 over the last three months. 14.23% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Sandy Spring Bank bought a new position in Access National in the second quarter worth $141,000. Royal Bank of Canada lifted its position in Access National by 53.1% in the second quarter. Royal Bank of Canada now owns 5,413 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,877 shares during the period. Nationwide Fund Advisors lifted its position in Access National by 53.9% in the second quarter. Nationwide Fund Advisors now owns 8,288 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 2,904 shares during the period. Citadel Advisors LLC bought a new position in Access National in the second quarter worth $236,000. Finally, Alliancebernstein L.P. bought a new position in Access National in the second quarter worth $289,000. 37.55% of the stock is owned by hedge funds and other institutional investors.

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Access National 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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