$31.67 Million in Sales Expected for Access National Corporation (ANCX) This Quarter

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.

COPYRIGHT VIOLATION WARNING: This article was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://sportsperspectives.com/2017/06/20/31-67-million-in-sales-expected-for-access-national-corporation-ancx-this-quarter.html.

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.

Get a free copy of the Zacks research report on Access National Corporation (ANCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply