Thomas M. Kody Buys 891 Shares of Access National Corp. (ANCX) Stock
Access National Corp. (NASDAQ:ANCX) Director Thomas M. Kody purchased 891 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was acquired at an average cost of $22.45 per share, with a total value of $20,002.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Access National Corp. (NASDAQ:ANCX) opened at 27.37 on Thursday. Access National Corp. has a 12 month low of $16.26 and a 12 month high of $28.10. The company has a 50-day moving average of $25.18 and a 200 day moving average of $22.44. The company has a market capitalization of $290.40 million, a P/E ratio of 16.79 and a beta of 0.87.
Access National Corp. (NASDAQ:ANCX) last issued its quarterly earnings data on Monday, October 17th. The financial services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Access National Corp. had a net margin of 21.78% and a return on equity of 14.96%. Analysts forecast that Access National Corp. will post $1.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Monday, October 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, October 27th. Access National Corp.’s payout ratio is 36.81%.
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Several research firms have recently commented on ANCX. Maxim Group lifted their price target on shares of Access National Corp. from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, October 20th. Zacks Investment Research raised shares of Access National Corp. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, October 19th. FBR & Co raised shares of Access National Corp. from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $29.00 in a report on Tuesday, October 25th. Finally, 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.80.
A number of institutional investors have recently added to or reduced their stakes in ANCX. BlackRock Fund Advisors boosted its position in Access National Corp. by 10.5% in the third quarter. BlackRock Fund Advisors now owns 234,641 shares of the financial services provider’s stock valued at $5,608,000 after buying an additional 22,353 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Access National Corp. during the third quarter valued at approximately $5,434,000. Wells Fargo & Company MN boosted its position in Access National Corp. by 20.0% in the third quarter. Wells Fargo & Company MN now owns 213,776 shares of the financial services provider’s stock valued at $5,109,000 after buying an additional 35,569 shares during the last quarter. Vanguard Group Inc. boosted its position in Access National Corp. by 11.3% in the second quarter. Vanguard Group Inc. now owns 181,762 shares of the financial services provider’s stock valued at $3,546,000 after buying an additional 18,463 shares during the last quarter. Finally, Perkins Investment Management LLC bought a new position in Access National Corp. during the third quarter valued at approximately $3,156,000. Hedge funds and other institutional investors own 25.08% of the company’s stock.
About Access National Corp.
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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