Access National Co. (ANCX) Shares Bought by IndexIQ Advisors LLC

IndexIQ Advisors LLC grew its position in shares of Access National Co. (NASDAQ:ANCX) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 76,669 shares of the financial services provider’s stock after purchasing an additional 7,081 shares during the quarter. IndexIQ Advisors LLC’s holdings in Access National were worth $2,193,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY acquired a new position in shares of Access National during the 4th quarter valued at $141,000. MetLife Investment Advisors LLC bought a new stake in shares of Access National during the 4th quarter worth $197,000. Sandy Spring Bank boosted its stake in shares of Access National by 128.3% during the 1st quarter. Sandy Spring Bank now owns 9,119 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 5,124 shares in the last quarter. United Capital Financial Advisers LLC bought a new stake in shares of Access National during the 1st quarter worth $292,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Access National by 34.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,429 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 3,731 shares in the last quarter. Institutional investors own 40.28% of the company’s stock.

Shares of Access National opened at $27.81 on Friday, Marketbeat reports. The firm has a market capitalization of $573.84 million, a PE ratio of 16.70 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. Access National Co. has a 12 month low of $24.36 and a 12 month high of $30.99.

Access National (NASDAQ:ANCX) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The business had revenue of $32.11 million during the quarter, compared to analyst estimates of $32.20 million. Access National had a return on equity of 8.11% and a net margin of 19.04%. analysts predict that Access National Co. will post 1.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, August 9th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 8th. This is a boost from Access National’s previous quarterly dividend of $0.15. Access National’s dividend payout ratio (DPR) is 39.75%.

In other Access National news, CEO Michael W. Clarke bought 4,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was acquired at an average price of $27.61 per share, with a total value of $110,440.00. Following the completion of the transaction, the chief executive officer now directly owns 716,380 shares in the company, valued at approximately $19,779,251.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 4,807 shares of company stock valued at $132,552. 14.08% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on the company. Raymond James lowered Access National from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. BidaskClub raised Access National from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Stephens reissued a “buy” rating and set a $31.00 price objective on shares of Access National in a research note on Tuesday, July 31st. Maxim Group reissued a “buy” rating and set a $31.00 price objective (down from $33.00) on shares of Access National in a research note on Monday, July 30th. Finally, Zacks Investment Research cut Access National from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Access National has a consensus rating of “Hold” and a consensus target price of $30.67.

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.

Further Reading: Diversification For Individual Investors

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Institutional Ownership by Quarter for Access National (NASDAQ:ANCX)

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