Access National (ANCX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Access National (NASDAQ:ANCX) from a buy rating to a hold rating in a report published on Friday.

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. “

A number of other research firms also recently commented on ANCX. Raymond James downgraded Access National from an outperform rating to a market perform rating in a report on Tuesday, July 10th. BidaskClub upgraded Access National from a hold rating to a buy rating in a report on Friday, July 6th. Keefe, Bruyette & Woods upgraded Access National from a market perform rating to an outperform rating and raised their price objective for the stock from $29.00 to $34.00 in a report on Monday, October 8th. Maxim Group downgraded Access National from a buy rating to a hold rating in a report on Friday, October 5th. Finally, Stephens restated a buy rating and issued a $31.00 price objective on shares of Access National in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Access National has an average rating of Hold and a consensus price target of $30.80.



Shares of NASDAQ:ANCX opened at $25.27 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. Access National has a 12-month low of $23.95 and a 12-month high of $30.40. The stock has a market capitalization of $523.91 million, a price-to-earnings ratio of 15.70 and a beta of 0.63.

Access National (NASDAQ:ANCX) last issued its quarterly earnings results on Friday, October 26th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Access National had a return on equity of 8.26% and a net margin of 20.79%. The firm had revenue of $31.51 million for the quarter, compared to analyst estimates of $31.23 million. Sell-side analysts expect that Access National will post 1.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, November 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Access National’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 7th. Access National’s dividend payout ratio (DPR) is 39.75%.

Institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC purchased a new position in shares of Access National in the 1st quarter worth about $292,000. American Research & Management Co. raised its holdings in shares of Access National by 30.3% during the 2nd quarter. American Research & Management Co. now owns 14,524 shares of the financial services provider’s stock valued at $415,000 after buying an additional 3,375 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Access National during the 2nd quarter valued at about $466,000. Brown Advisory Inc. purchased a new stake in shares of Access National during the 1st quarter valued at about $725,000. Finally, UBS Group AG raised its holdings in shares of Access National by 209.8% during the 1st quarter. UBS Group AG now owns 26,929 shares of the financial services provider’s stock valued at $768,000 after buying an additional 18,237 shares during the period. Institutional investors own 43.91% of the company’s stock.

About Access National

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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