Access National (ANCX) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Access National (NASDAQ:ANCX) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $31.00 price target on the financial services provider’s stock.
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 analysts also recently issued reports on ANCX. UBS Group raised shares of Access National from a market perform rating to an outperform rating in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reissued a hold rating and set a $29.00 target price on shares of Access National in a research report on Tuesday, October 3rd. Stephens assumed coverage on shares of Access National in a research report on Thursday, November 16th. They set an overweight rating and a $31.00 target price for the company. Raymond James Financial raised shares of Access National from a market perform rating to an outperform rating and set a $31.00 target price for the company in a research report on Thursday, October 26th. Finally, Sandler O’Neill set a $30.00 target price on shares of Access National and gave the stock a hold rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $31.00.
Access National (ANCX) traded up $0.31 during midday trading on Tuesday, hitting $28.98. 28,100 shares of the stock were exchanged, compared to its average volume of 27,663. Access National has a one year low of $24.36 and a one year high of $33.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $598.04, a P/E ratio of 27.60 and a beta of 0.95.
In other Access National news, insider Mark D. Moore bought 3,972 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average price of $27.84 per share, with a total value of $110,580.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have purchased 4,744 shares of company stock valued at $132,073. Corporate insiders own 14.23% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sandy Spring Bank acquired a new stake in Access National in the second quarter valued at approximately $141,000. Royal Bank of Canada grew its position in Access National by 53.1% in the second quarter. Royal Bank of Canada now owns 5,413 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,877 shares in the last quarter. Nationwide Fund Advisors grew its position in Access National by 53.9% in the second quarter. Nationwide Fund Advisors now owns 8,288 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 2,904 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Access National in the second quarter valued at approximately $236,000. Finally, Alliancebernstein L.P. acquired a new stake in Access National in the second quarter valued at approximately $289,000. 37.49% of the stock is owned by hedge funds and other institutional investors.
About Access National
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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