Access National (ANCX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Access National (NASDAQ:ANCX) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Access National Corporation serves as the holding company for Access National Bank and its subsidiaries, Access National Mortgage Corporation and Access National Leasing Corporation. “

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Access National from a hold rating to a sell rating in a research report on Friday, August 17th. Raymond James downgraded shares of Access National from an outperform rating to a market perform rating in a research report on Tuesday, July 10th. Stephens reissued a buy rating and set a $31.00 target price on shares of Access National in a research report on Tuesday, July 31st. Finally, Maxim Group reissued a buy rating and set a $31.00 target price (down from $33.00) on shares of Access National in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $30.67.

Access National stock traded down $0.18 during mid-day trading on Wednesday, hitting $26.94. 202 shares of the company’s stock were exchanged, compared to its average volume of 48,655. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.88. The company has a market capitalization of $565.90 million, a price-to-earnings ratio of 16.76 and a beta of 0.64. Access National has a 1-year low of $26.07 and a 1-year high of $30.99.

Access National (NASDAQ:ANCX) last posted 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 for the quarter, compared to analyst estimates of $32.20 million. Access National had a return on equity of 8.06% and a net margin of 19.04%. sell-side analysts anticipate that Access National will post 1.68 earnings per share for the current year.

Several large investors have recently modified their holdings of ANCX. Janus Henderson Group PLC grew its position in shares of Access National by 35.9% in the second quarter. Janus Henderson Group PLC now owns 1,043,394 shares of the financial services provider’s stock valued at $29,841,000 after purchasing an additional 275,482 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Access National by 52.3% in the first quarter. The Manufacturers Life Insurance Company now owns 664,488 shares of the financial services provider’s stock valued at $18,958,000 after purchasing an additional 228,084 shares during the last quarter. Pwmco LLC acquired a new stake in shares of Access National in the second quarter valued at about $4,392,000. Wells Fargo & Company MN grew its position in shares of Access National by 62.9% in the first quarter. Wells Fargo & Company MN now owns 345,906 shares of the financial services provider’s stock valued at $9,868,000 after purchasing an additional 133,595 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Access National by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 537,698 shares of the financial services provider’s stock valued at $15,378,000 after purchasing an additional 96,179 shares during the last quarter. 43.90% of the stock is currently owned by institutional investors.

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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