Access National Co. (ANCX) Receives Consensus Rating of “Hold” from Brokerages
Shares of Access National Co. (NASDAQ:ANCX) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $30.75.
Several analysts have weighed in on the stock. Maxim Group reissued a “hold” rating on shares of Access National in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of Access National from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, October 29th. Raymond James raised shares of Access National from a “market perform” rating to an “outperform” rating in a research note on Monday, October 29th. BidaskClub raised shares of Access National from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, Keefe, Bruyette & Woods raised shares of Access National from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $29.00 to $34.00 in a research note on Monday, October 8th.
Several large investors have recently modified their holdings of ANCX. Virginia Retirement Systems ET AL bought a new position in shares of Access National during the third quarter valued at about $201,000. American Research & Management Co. raised its stake in shares of Access National by 30.3% during the second quarter. American Research & Management Co. now owns 14,524 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 3,375 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Access National during the second quarter valued at about $466,000. Alliancebernstein L.P. raised its stake in shares of Access National by 20.0% during the third quarter. Alliancebernstein L.P. now owns 24,757 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 4,120 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Access National during the first quarter valued at about $725,000. 43.10% of the stock is owned by hedge funds and other institutional investors.
Access National (NASDAQ:ANCX) last posted its quarterly earnings results on Friday, October 26th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $31.51 million during the quarter, compared to the consensus estimate of $31.23 million. Access National had a net margin of 20.79% and a return on equity of 8.26%. As a group, equities analysts expect that Access National will post 1.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.57%. This is an increase from Access National’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, November 7th. Access National’s dividend payout ratio is 42.24%.
Access National Company Profile
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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