Access National (ANCX) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Access National (NASDAQ:ANCX) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other equities analysts also recently issued research reports about the company. Stephens began coverage on Access National in a research report on Thursday, November 16th. They issued an overweight rating and a $31.00 target price on the stock. Sandler O’Neill set a $30.00 target price on Access National and gave the company a hold rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research raised Access National from a hold rating to a buy rating and set a $31.00 target price on the stock in a research report on Tuesday, January 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $31.00.

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Shares of Access National (ANCX) opened at $29.60 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market capitalization of $605.40, a P/E ratio of 32.17 and a beta of 0.82. Access National has a 52 week low of $24.36 and a 52 week high of $33.18.

Access National (NASDAQ:ANCX) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Access National had a return on equity of 8.72% and a net margin of 11.96%. The firm had revenue of $32.59 million for the quarter, compared to analyst estimates of $31.77 million. equities research analysts forecast that Access National will post 1.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, February 9th. Access National’s payout ratio is 65.22%.

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Access National by 53.1% in the second quarter. Royal Bank of Canada now owns 5,413 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,877 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of Access National by 53.9% in the second quarter. Nationwide Fund Advisors now owns 8,288 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 2,904 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Access National by 34.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,429 shares of the financial services provider’s stock worth $402,000 after buying an additional 3,731 shares in the last quarter. New York State Common Retirement Fund grew its position in Access National by 33.3% during the second quarter. New York State Common Retirement Fund now owns 15,197 shares of the financial services provider’s stock worth $403,000 after buying an additional 3,796 shares in the last quarter. Finally, BlackRock Inc. grew its position in Access National by 0.5% during the fourth quarter. BlackRock Inc. now owns 773,201 shares of the financial services provider’s stock worth $21,526,000 after buying an additional 4,056 shares in the last quarter. 36.95% of the stock is currently owned by institutional investors.

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About Access National

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.

Analyst Recommendations for Access National (NASDAQ:ANCX)

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