Access National (NASDAQ:ANCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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 research analysts have also recently issued reports on the company. Stephens started coverage on Access National in a research note on Thursday, November 16th. They issued an “overweight” rating and a $31.00 price target for the company. Raymond James Financial raised Access National from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $30.00 price target on shares of Access National in a research note on Sunday, November 5th. UBS Group raised Access National from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 26th. Finally, BidaskClub cut Access National from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.43.
In other news, insider Mark D. Moore acquired 3,972 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was acquired at an average price of $27.84 per share, for a total transaction of $110,580.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders bought 4,744 shares of company stock valued at $132,073. Insiders own 14.23% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sandy Spring Bank acquired a new position in Access National in the 2nd quarter worth about $141,000. Royal Bank of Canada increased its position in Access National by 53.1% in the 2nd quarter. Royal Bank of Canada now owns 5,413 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,877 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Access National by 53.9% during the 2nd quarter. Nationwide Fund Advisors now owns 8,288 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 2,904 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Access National during the 2nd quarter valued at about $229,000. Finally, Citadel Advisors LLC acquired a new position in shares of Access National during the 2nd quarter valued at about $236,000. 37.49% of the stock is owned by institutional investors and hedge funds.
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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.
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