Access National Corporation (ANCX) Receives New Coverage from Analysts at Stephens
Stephens started coverage on shares of Access National Corporation (NASDAQ:ANCX) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $31.00 price objective on the financial services provider’s stock.
Several other research firms also recently weighed in on ANCX. Maxim Group reissued a buy rating and issued a $33.00 price target (up from $32.00) on shares of Access National Corporation in a research note on Monday, October 30th. Zacks Investment Research raised shares of Access National Corporation from a hold rating to a buy rating and set a $34.00 price target on the stock in a research note on Friday, October 27th. BidaskClub raised shares of Access National Corporation from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Keefe, Bruyette & Woods reissued a hold rating and issued a $30.00 price target on shares of Access National Corporation in a research note on Sunday, November 5th. Finally, Raymond James Financial, Inc. raised shares of Access National Corporation from a market perform rating to an outperform rating and set a $31.00 price target on the stock in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $31.43.
Shares of Access National Corporation (ANCX) opened at $28.44 on Thursday. Access National Corporation has a 52-week low of $24.36 and a 52-week high of $33.18. The stock has a market cap of $581.68, a PE ratio of 20.91 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.89.
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The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 8th. Access National Corporation’s dividend payout ratio (DPR) is presently 63.83%.
In other news, Director J Randolph Babbitt bought 4,100 shares of Access National Corporation stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $25.53 per share, with a total value of $104,673.00. Following the completion of the purchase, the director now directly owns 9,126 shares of the company’s stock, valued at $232,986.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 4,955 shares of company stock worth $126,168 over the last ninety days. 14.23% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. American International Group Inc. raised its stake in shares of Access National Corporation by 6.8% in the 1st 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. Vanguard Group Inc. raised its stake in shares of Access National Corporation by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 256,574 shares of the financial services provider’s stock valued at $7,702,000 after acquiring an additional 38,803 shares during the period. Geode Capital Management LLC raised its stake in shares of Access National Corporation by 85.5% in the 1st quarter. Geode Capital Management LLC now owns 105,968 shares of the financial services provider’s stock valued at $3,181,000 after acquiring an additional 48,833 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Access National Corporation by 39.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,475 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 4,621 shares during the period. Finally, RE Advisers Corp purchased a new stake in shares of Access National Corporation in the 2nd quarter valued at approximately $2,449,000. 36.99% of the stock is currently owned by institutional investors.
Access National Corporation 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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