BidaskClub lowered shares of Access National (NASDAQ:ANCX) from a buy rating to a hold rating in a research note published on Wednesday, June 13th.
Separately, Zacks Investment Research cut shares of Access National from a buy rating to a hold rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $31.00.
Access National opened at $30.00 on Wednesday, according to MarketBeat Ratings. Access National has a fifty-two week low of $24.36 and a fifty-two week high of $30.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.88. The firm has a market capitalization of $613.18 million, a price-to-earnings ratio of 18.63 and a beta of 0.88.
Access National (NASDAQ:ANCX) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Access National had a net margin of 15.48% and a return on equity of 7.79%. The firm had revenue of $30.64 million during the quarter, compared to analysts’ expectations of $32.01 million. equities analysts anticipate that Access National will post 1.8 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Thursday, May 10th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.00%. Access National’s dividend payout ratio is currently 37.27%.
In related news, CEO Michael W. Clarke bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was acquired at an average price of $27.61 per share, with a total value of $110,440.00. Following the completion of the purchase, the chief executive officer now directly owns 716,380 shares of the company’s stock, valued at $19,779,251.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have bought 4,807 shares of company stock valued at $132,552 in the last three months. Corporate insiders own 14.08% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Access National by 3.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 436,404 shares of the financial services provider’s stock worth $12,149,000 after purchasing an additional 13,053 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in shares of Access National by 6.6% during the fourth quarter. Penn Capital Management Co. Inc. now owns 153,184 shares of the financial services provider’s stock worth $4,265,000 after purchasing an additional 9,507 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Access National by 22.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 66,726 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 12,279 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Access National during the fourth quarter worth about $291,000. Finally, Context BH Capital Management LP increased its stake in shares of Access National by 10.4% during 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 purchasing an additional 4,241 shares in the last quarter. 39.76% of the stock is owned by institutional investors and hedge funds.
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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