Access National Co. (ANCX) Coverage Initiated at Sandler O’Neill
Sandler O’Neill initiated coverage on shares of Access National Co. (NASDAQ:ANCX) in a research note published on Monday morning. The firm issued a hold rating and a $30.00 price objective on the financial services provider’s stock.
Several other equities research analysts have also weighed in on ANCX. Keefe, Bruyette & Woods set a $30.00 target price on Access National and gave the stock a hold rating in a report on Tuesday, April 4th. Maxim Group boosted their target price on Access National from $29.00 to $32.00 and gave the stock a buy rating in a report on Monday, December 19th. Merion Capital Group started coverage on Access National in a report on Monday, March 27th. They set a neutral rating and a $31.00 price target for the company. Finally, Zacks Investment Research upgraded Access National from a sell rating to a buy rating and set a $32.00 price target for the company in a report on Monday, March 27th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $29.14.
Access National (NASDAQ:ANCX) opened at 28.18 on Monday. The stock’s 50 day moving average is $27.96 and its 200 day moving average is $27.01. The stock has a market capitalization of $303.39 million, a price-to-earnings ratio of 18.30 and a beta of 0.94. Access National has a one year low of $18.11 and a one year high of $33.18.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, March 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.13%. Access National’s dividend payout ratio (DPR) is presently 38.96%.
Several hedge funds and other institutional investors have recently modified their holdings of ANCX. Independent Advisor Alliance acquired a new position in shares of Access National during the fourth quarter worth approximately $178,000. Metropolitan Life Insurance Co. NY raised its position in shares of Access National by 847.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,445 shares of the financial services provider’s stock worth $179,000 after buying an additional 5,765 shares during the period. American Research & Management Co. raised its position in shares of Access National by 13.6% in the first quarter. American Research & Management Co. now owns 7,499 shares of the financial services provider’s stock worth $225,000 after buying an additional 900 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Access National during the fourth quarter worth approximately $228,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Access National during the fourth quarter worth approximately $243,000. Institutional investors own 27.03% of the company’s stock.
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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