Penn Capital Management Co. Inc. purchased a new position in shares of Access National Corporation (NASDAQ:ANCX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,655 shares of the financial services provider’s stock, valued at approximately $1,290,000. Penn Capital Management Co. Inc. owned approximately 0.24% of Access National Corporation as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American International Group Inc. increased its position in shares of Access National Corporation by 6.8% during the first quarter. American International Group Inc. now owns 5,014 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 321 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Access National Corporation by 17.6% during the first quarter. Nationwide Fund Advisors now owns 5,384 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 807 shares in the last quarter. First Trust Advisors LP increased its position in shares of Access National Corporation by 10.3% during the first quarter. First Trust Advisors LP now owns 19,745 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 1,844 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Access National Corporation by 25.2% during the second quarter. Private Advisor Group LLC now owns 17,411 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,508 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Access National Corporation by 33.3% during the second quarter. New York State Common Retirement Fund now owns 15,197 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 3,796 shares in the last quarter. Hedge funds and other institutional investors own 36.86% of the company’s stock.

In other news, Director J Randolph Babbitt acquired 4,100 shares of Access National Corporation stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $25.53 per share, with a total value of $104,673.00. Following the completion of the acquisition, the director now owns 9,126 shares in the company, valued at approximately $232,986.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 4,955 shares of company stock valued at $126,168. 14.23% of the stock is currently owned by insiders.

Shares of Access National Corporation (ANCX) opened at 27.25 on Friday. Access National Corporation has a one year low of $22.73 and a one year high of $33.18. The stock has a market capitalization of $555.65 million, a PE ratio of 25.80 and a beta of 0.96. The firm has a 50-day moving average price of $25.55 and a 200 day moving average price of $27.22.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend 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 presently 59.41%.

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ANCX has been the subject of several research reports. Zacks Investment Research upgraded Access National Corporation from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. BidaskClub upgraded Access National Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.67.

Access National Corporation 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.

Institutional Ownership by Quarter for Access National Corporation (NASDAQ:ANCX)

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