Zacks Investment Research upgraded shares of Access National (NASDAQ:ANCX) from a strong sell rating to a hold rating in a research report report published on Wednesday.

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 brokerages have also recently commented on ANCX. BidaskClub cut shares of Access National from a hold rating to a sell rating in a research note on Friday, August 17th. Maxim Group restated a buy rating and set a $31.00 price target (down previously from $33.00) on shares of Access National in a research note on Monday, July 30th. Stephens restated a buy rating and set a $31.00 price target on shares of Access National in a research note on Tuesday, July 31st. Finally, Raymond James cut shares of Access National from an outperform rating to a market perform rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $30.67.

ANCX stock traded down $0.18 during trading on Wednesday, reaching $26.94. 202 shares of the stock were exchanged, compared to its average volume of 48,655. The company has a market cap of $565.90 million, a PE ratio of 16.76 and a beta of 0.64. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Access National has a twelve month low of $26.07 and a twelve month high of $30.99.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ANCX. Teton Advisors Inc. raised its stake in shares of Access National by 6.6% in the second quarter. Teton Advisors Inc. now owns 29,311 shares of the financial services provider’s stock valued at $838,000 after acquiring an additional 1,811 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Access National by 0.5% in the second quarter. Renaissance Technologies LLC now owns 404,695 shares of the financial services provider’s stock valued at $11,574,000 after acquiring an additional 1,890 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Access National by 0.7% in the second quarter. Wells Fargo & Company MN now owns 348,171 shares of the financial services provider’s stock valued at $9,957,000 after acquiring an additional 2,265 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Access National by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,120 shares of the financial services provider’s stock valued at $2,149,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Access National by 4.1% in the second quarter. Raymond James & Associates now owns 63,640 shares of the financial services provider’s stock valued at $1,820,000 after acquiring an additional 2,524 shares during the last quarter. Hedge funds and other institutional investors own 43.90% of the company’s stock.

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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