Short Interest in Access National Corp. (ANCX) Increases By 41.7%
Access National Corp. (NASDAQ:ANCX) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 798,037 shares, an increase of 41.7% from the October 31st total of 563,053 shares. Currently, 11.0% of the shares of the company are sold short. Based on an average trading volume of 101,259 shares, the days-to-cover ratio is presently 7.9 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. American Research & Management Co. boosted its position in shares of Access National Corp. by 64.1% in the second quarter. American Research & Management Co. now owns 6,399 shares of the financial services provider’s stock valued at $125,000 after buying an additional 2,500 shares during the period. Teachers Advisors Inc. boosted its position in shares of Access National Corp. by 15.5% in the second quarter. Teachers Advisors Inc. now owns 11,597 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,556 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Access National Corp. during the second quarter valued at approximately $261,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Access National Corp. during the second quarter valued at approximately $276,000. Finally, California State Teachers Retirement System boosted its position in shares of Access National Corp. by 11.0% in the second quarter. California State Teachers Retirement System now owns 17,118 shares of the financial services provider’s stock valued at $334,000 after buying an additional 1,692 shares during the period. 25.08% of the stock is owned by hedge funds and other institutional investors.
ANCX has been the subject of several analyst reports. Raymond James Financial Inc. raised shares of Access National Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Thursday, August 25th. FBR & Co raised shares of Access National Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $26.00 to $29.00 in a report on Tuesday, October 25th. Zacks Investment Research downgraded shares of Access National Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 19th. Finally, Maxim Group upped their price objective on shares of Access National Corp. from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.80.
Shares of Access National Corp. (NASDAQ:ANCX) opened at 27.37 on Tuesday. The company has a 50-day moving average of $25.18 and a 200 day moving average of $22.44. The firm has a market cap of $290.40 million, a P/E ratio of 16.79 and a beta of 0.87. Access National Corp. has a 12-month low of $16.26 and a 12-month high of $28.10.
Access National Corp. (NASDAQ:ANCX) last issued its earnings results on Monday, October 17th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. Access National Corp. had a return on equity of 14.96% and a net margin of 21.78%. Equities analysts predict that Access National Corp. will post $1.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Monday, October 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.60 annualized dividend and a yield of 2.14%. Access National Corp.’s dividend payout ratio (DPR) is currently 36.81%.
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Access National Corp. Company Profile
Access National Corporation is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage services and wealth management services to middle market commercial businesses and associated professionals, primarily in the Washington, District of Columbia Metropolitan Area.
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