Access National (NASDAQ:ANCX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
A number of other research analysts have also recently commented on ANCX. BidaskClub upgraded shares of Access National from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Sandler O’Neill set a $30.00 price target on shares of Access National and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Stephens assumed coverage on shares of Access National in a report on Thursday, November 16th. They issued an “overweight” rating and a $31.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.00.
Access National (NASDAQ ANCX) traded down $0.06 during mid-day trading on Tuesday, reaching $29.50. 18,638 shares of the company’s stock were exchanged, compared to its average volume of 39,131. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.89. Access National has a fifty-two week low of $24.36 and a fifty-two week high of $33.18. The company has a market capitalization of $607.81, a PE ratio of 36.43 and a beta of 0.85.
Access National (NASDAQ:ANCX) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The firm had revenue of $32.59 million for the quarter, compared to analysts’ expectations of $31.77 million. Access National had a net margin of 11.96% and a return on equity of 8.72%. equities research analysts forecast that Access National will post 1.95 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new stake in Access National in the fourth quarter worth about $197,000. Metropolitan Life Insurance Co. NY purchased a new stake in Access National in the fourth quarter worth about $141,000. Goldman Sachs Group Inc. lifted its stake in Access National by 34.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,429 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 3,731 shares during the period. Context BH Capital Management LP lifted its stake in Access National by 10.4% in the fourth quarter. Context BH Capital Management LP now owns 45,003 shares of the financial services provider’s stock worth $1,253,000 after acquiring an additional 4,241 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Access National by 53.1% in the fourth quarter. Alliancebernstein L.P. now owns 16,687 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 5,790 shares during the period. Hedge funds and other institutional investors own 36.95% of the company’s stock.
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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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