Access National (ANCX) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Access National (NASDAQ:ANCX) from a market perform rating to an outperform rating in a research report sent to investors on Monday, Marketbeat.com reports. Keefe, Bruyette & Woods currently has $34.00 price objective on the financial services provider’s stock, up from their previous price objective of $29.00.

Other equities research analysts have also issued research reports about the company. Stephens reissued a buy rating and issued a $31.00 target price on shares of Access National in a research report on Tuesday, July 31st. Maxim Group reissued a buy rating and issued a $31.00 target price (down previously from $33.00) on shares of Access National in a research report on Monday, July 30th. BidaskClub raised Access National from a hold rating to a buy rating in a research report on Tuesday, June 19th. Zacks Investment Research raised Access National from a strong sell rating to a hold rating in a research report on Wednesday, September 26th. Finally, Raymond James lowered Access National from an outperform rating to a market perform rating in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Access National presently has a consensus rating of Hold and a consensus price target of $31.33.

Shares of Access National stock opened at $28.97 on Monday. Access National has a 52-week low of $25.81 and a 52-week high of $30.99. The company has a market capitalization of $563.82 million, a P/E ratio of 18.26 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10.

Access National (NASDAQ:ANCX) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). Access National had a net margin of 19.04% and a return on equity of 8.06%. The firm had revenue of $32.11 million during the quarter, compared to analyst estimates of $32.20 million. Research analysts forecast that Access National will post 1.68 earnings per share for the current year.

Several large investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in shares of Access National by 7.2% during the 2nd quarter. Northern Trust Corp now owns 201,639 shares of the financial services provider’s stock worth $5,767,000 after purchasing an additional 13,585 shares during the last quarter. Raymond James & Associates increased its position in shares of Access National by 4.1% during the 2nd quarter. Raymond James & Associates now owns 63,640 shares of the financial services provider’s stock worth $1,820,000 after purchasing an additional 2,524 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Access National by 0.5% during the 2nd quarter. Renaissance Technologies LLC now owns 404,695 shares of the financial services provider’s stock worth $11,574,000 after purchasing an additional 1,890 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Access National during the 2nd quarter worth approximately $1,697,000. Finally, Teton Advisors Inc. increased its position in shares of Access National by 6.6% during the 2nd quarter. Teton Advisors Inc. now owns 29,311 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 1,811 shares during the last quarter. 43.90% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Access National (NASDAQ:ANCX)

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