Access National Co. (ANCX) Receives Average Rating of “Hold” from Brokerages

Access National Co. (NASDAQ:ANCX) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

Several research analysts have issued reports on the stock. BidaskClub cut shares of Access National from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Raymond James cut shares of Access National from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. Finally, Zacks Investment Research cut shares of Access National from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd.

In other news, CEO Michael W. Clarke bought 4,000 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was acquired at an average cost of $27.61 per share, with a total value of $110,440.00. Following the completion of the acquisition, the chief executive officer now owns 716,380 shares of the company’s stock, valued at $19,779,251.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 4,807 shares of company stock valued at $132,552 over the last ninety days. Corporate insiders own 14.08% of the company’s stock.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Access National by 1.4% in the first quarter. BlackRock Inc. now owns 783,664 shares of the financial services provider’s stock worth $22,359,000 after acquiring an additional 10,463 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Access National by 52.3% in the first quarter. The Manufacturers Life Insurance Company now owns 664,488 shares of the financial services provider’s stock worth $18,958,000 after acquiring an additional 228,084 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Access National by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 441,519 shares of the financial services provider’s stock worth $12,597,000 after acquiring an additional 53,165 shares during the period. Wells Fargo & Company MN grew its stake in shares of Access National by 62.9% in the first quarter. Wells Fargo & Company MN now owns 345,906 shares of the financial services provider’s stock worth $9,868,000 after acquiring an additional 133,595 shares during the period. Finally, Motley Fool Wealth Management LLC grew its stake in shares of Access National by 117.7% in the first quarter. Motley Fool Wealth Management LLC now owns 264,323 shares of the financial services provider’s stock worth $7,541,000 after acquiring an additional 142,934 shares during the period. 39.81% of the stock is owned by institutional investors and hedge funds.

NASDAQ ANCX traded down $0.76 during trading hours on Friday, reaching $27.78. 66,807 shares of the company’s stock traded hands, compared to its average volume of 50,790. Access National has a 52-week low of $24.36 and a 52-week high of $30.99. The stock has a market cap of $585.23 million, a P/E ratio of 17.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.88.

Access National (NASDAQ:ANCX) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $32.11 million during the quarter, compared to analysts’ expectations of $32.20 million. Access National had a return on equity of 7.79% and a net margin of 15.48%. research analysts expect that Access National will post 1.8 earnings per share for the current fiscal year.

About Access National

Access National Corporation operates as the bank holding company for Access National Bank that provides credit, deposit, mortgage, and wealth management services to small and medium sized businesses, professionals, and associated individuals primarily in the greater Washington, DC Metropolitan Area. The company operates through three segments: Commercial Banking, Mortgage Banking, and Wealth Management.

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Analyst Recommendations for Access National (NASDAQ:ANCX)

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