Access National Co. (NASDAQ:ANCX) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $32.00 price objective on the financial services provider’s stock. Zacks Investment Research’s target price suggests a potential upside of 11.03% from the stock’s current price.
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. “
ANCX has been the subject of several other research reports. Maxim Group lifted their price target on Access National from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Merion Capital Group started coverage on Access National in a research note on Monday. They set a “neutral” rating and a $31.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $27.00.
Access National (NASDAQ:ANCX) traded up 1.34% during midday trading on Monday, reaching $28.82. The company had a trading volume of 37,374 shares. The stock has a market capitalization of $310.28 million, a price-to-earnings ratio of 18.71 and a beta of 0.94. Access National has a one year low of $18.00 and a one year high of $29.28. The company has a 50-day moving average price of $27.15 and a 200-day moving average price of $26.27.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, March 29th. Access National’s dividend payout ratio (DPR) is currently 38.96%.
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A number of large investors have recently modified their holdings of ANCX. Wells Fargo & Company MN raised its stake in shares of Access National by 20.0% in the third quarter. Wells Fargo & Company MN now owns 213,776 shares of the financial services provider’s stock valued at $5,109,000 after buying an additional 35,569 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Access National during the fourth quarter valued at about $178,000. Perkins Investment Management LLC purchased a new stake in shares of Access National during the third quarter valued at about $3,156,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Access National during the fourth quarter valued at about $668,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Access National during the fourth quarter valued at about $243,000. 27.03% of the stock is owned by hedge funds and other institutional investors.
About Access National
Access National Corporation is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage services and wealth management services to middle market commercial businesses and associated professionals, primarily in the Washington, District of Columbia Metropolitan Area.
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