First Trust Advisors LP Purchases 12,076 Shares of Access National Corporation (ANCX)
First Trust Advisors LP raised its position in Access National Corporation (NASDAQ:ANCX) by 61.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,821 shares of the financial services provider’s stock after purchasing an additional 12,076 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Access National Corporation worth $844,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ANCX. American International Group Inc. boosted its stake in shares of Access National Corporation by 6.8% during the 1st quarter. American International Group Inc. now owns 5,014 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 321 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Access National Corporation by 17.6% during the 1st quarter. Nationwide Fund Advisors now owns 5,384 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 807 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Access National Corporation by 160.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,980 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 6,772 shares in the last quarter. Palladium Partners LLC bought a new stake in shares of Access National Corporation during the 2nd quarter worth about $353,000. Finally, Montgomery Investment Management Inc. bought a new stake in shares of Access National Corporation during the 2nd quarter worth about $486,000. Hedge funds and other institutional investors own 36.86% of the company’s stock.
Several analysts have recently issued reports on the company. BidaskClub upgraded Access National Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded Access National Corporation from a “sell” rating to a “hold” rating in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.67.
Shares of Access National Corporation (NASDAQ:ANCX) opened at 27.25 on Friday. The stock’s 50 day moving average price is $25.55 and its 200 day moving average price is $27.22. Access National Corporation has a 1-year low of $22.73 and a 1-year high of $33.18. The company has a market cap of $555.65 million, a P/E ratio of 25.80 and a beta of 0.96.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 14th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 10th. This represents a $0.60 annualized dividend and a yield of 2.20%. Access National Corporation’s dividend payout ratio (DPR) is 59.41%.
In other news, Director J Randolph Babbitt acquired 4,100 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $25.53 per share, for a total transaction of $104,673.00. Following the purchase, the director now owns 9,126 shares in the company, valued at approximately $232,986.78. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 4,955 shares of company stock valued at $126,168. Company insiders own 14.23% of the company’s stock.
About Access National Corporation
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.
Want to see what other hedge funds are holding ANCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Access National Corporation (NASDAQ:ANCX).
Receive News & Stock Ratings for Access National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Access National Corporation and related stocks with our FREE daily email newsletter.