Brokerages expect Access National Corporation (NASDAQ:ANCX) to announce $31.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Access National Corporation’s earnings, with estimates ranging from $31.20 million to $32.13 million. Access National Corporation reported sales of $19.93 million in the same quarter last year, which indicates a positive year over year growth rate of 58.9%. The business is scheduled to issue its next earnings results on Friday, July 21st.
On average, analysts expect that Access National Corporation will report full-year sales of $31.67 million for the current fiscal year, with estimates ranging from $113.38 million to $114.20 million. For the next year, analysts expect that the business will post sales of $135.74 million per share, with estimates ranging from $129.08 million to $142.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Access National Corporation.
Several brokerages have recently commented on ANCX. Keefe, Bruyette & Woods set a $30.00 price objective on Access National Corporation and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Zacks Investment Research downgraded Access National Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 21st. Sandler O’Neill began coverage on Access National Corporation in a research note on Monday, April 17th. They issued a “hold” rating and a $30.00 price objective for the company. Finally, Merion Capital Group began coverage on Access National Corporation in a research note on Monday, March 27th. They issued a “neutral” rating and a $31.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.14.
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In other Access National Corporation news, Director Mark D. Moore bought 5,000 shares of Access National Corporation stock in a transaction dated Friday, April 28th. The stock was bought at an average cost of $28.43 per share, with a total value of $142,150.00. Following the completion of the acquisition, the director now directly owns 6,964 shares in the company, valued at approximately $197,986.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark D. Moore bought 1,500 shares of Access National Corporation stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost of $28.05 per share, with a total value of $42,075.00. Following the completion of the acquisition, the director now owns 11,964 shares of the company’s stock, valued at $335,590.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 7,987 shares of company stock valued at $225,873. 24.31% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ANCX. Russell Investments Group Ltd. acquired a new position in Access National Corporation during the fourth quarter valued at about $298,000. State Street Corp raised its position in Access National Corporation by 25.1% in the fourth quarter. State Street Corp now owns 106,125 shares of the financial services provider’s stock valued at $2,945,000 after buying an additional 21,300 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Access National Corporation by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 287,497 shares of the financial services provider’s stock valued at $7,981,000 after buying an additional 19,255 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Access National Corporation during the fourth quarter valued at about $668,000. Finally, Keybank National Association OH acquired a new position in Access National Corporation during the fourth quarter valued at about $389,000. 22.64% of the stock is owned by institutional investors.
Access National Corporation (NASDAQ:ANCX) traded down 1.70% on Friday, reaching $27.13. The company’s stock had a trading volume of 22,670 shares. The firm’s 50-day moving average price is $28.40 and its 200 day moving average price is $28.01. The company has a market cap of $550.90 million, a P/E ratio of 19.55 and a beta of 0.97. Access National Corporation has a 52-week low of $18.55 and a 52-week high of $33.18.
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.
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