UBS Group AG Decreases Stake in Access National Corporation (ANCX)
UBS Group AG reduced its stake in Access National Corporation (NASDAQ:ANCX) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,116 shares of the financial services provider’s stock after selling 711 shares during the period. UBS Group AG’s holdings in Access National Corporation were worth $154,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of 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 buying an additional 321 shares in the last quarter. Nationwide Fund Advisors raised 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 buying an additional 807 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Access National Corporation by 847.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,445 shares of the financial services provider’s stock valued at $179,000 after buying an additional 5,765 shares during the period. American Research & Management Co. raised its stake in Access National Corporation by 13.6% in the first quarter. American Research & Management Co. now owns 7,499 shares of the financial services provider’s stock valued at $225,000 after buying an additional 900 shares during the period. Finally, Highbridge Capital Management LLC acquired a new stake in Access National Corporation during the fourth quarter valued at about $228,000. 23.16% of the stock is currently owned by institutional investors and hedge funds.
Access National Corporation (NASDAQ:ANCX) traded down 0.35% during mid-day trading on Thursday, hitting $25.65. 956 shares of the stock traded hands. The stock has a market cap of $522.70 million, a price-to-earnings ratio of 24.29 and a beta of 0.95. Access National Corporation has a 1-year low of $21.02 and a 1-year high of $33.18. The company’s 50 day moving average price is $26.56 and its 200-day moving average price is $27.57.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, August 10th. Access National Corporation’s payout ratio is 59.41%.
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Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Access National Corporation from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Sandler O’Neill assumed coverage on shares of Access National Corporation in a research report on Monday, April 17th. They issued a “hold” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.14.
In other news, Director Mark D. Moore bought 1,500 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were bought at an average price of $28.05 per share, for a total transaction of $42,075.00. Following the purchase, the director now owns 11,964 shares in the company, valued at $335,590.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have acquired 2,287 shares of company stock worth $63,584. 24.31% of the stock is owned by company insiders.
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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