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

Zacks Investment Research upgraded shares of Access National (NASDAQ:ANCX) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $31.00 price objective on the financial services provider’s stock.

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 analysts have also weighed in on ANCX. Sandler O’Neill set a $30.00 price objective on Access National and gave the company a hold rating in a research note on Thursday, January 4th. Maxim Group reaffirmed a buy rating and issued a $33.00 price objective (up from $32.00) on shares of Access National in a research note on Monday, October 30th. Keefe, Bruyette & Woods reissued a hold rating and set a $29.00 price target on shares of Access National in a research note on Tuesday, October 3rd. BidaskClub lowered Access National from a sell rating to a strong sell rating in a research note on Wednesday, December 27th. Finally, UBS Group raised Access National from a market perform rating to an outperform rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $31.00.

Access National (NASDAQ:ANCX) traded up $0.31 during trading hours on Tuesday, reaching $28.68. The company had a trading volume of 16,427 shares, compared to its average volume of 30,543. The firm has a market capitalization of $586.56, a price-to-earnings ratio of 27.31 and a beta of 0.95. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Access National has a fifty-two week low of $24.36 and a fifty-two week high of $33.18.

In related news, insider Mark D. Moore acquired 3,972 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $27.84 per share, with a total value of $110,580.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 4,744 shares of company stock worth $132,073. 14.23% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of Access National in the third quarter worth approximately $365,000. Janus Henderson Group PLC lifted its stake in shares of Access National by 6.4% in the third quarter. Janus Henderson Group PLC now owns 926,679 shares of the financial services provider’s stock worth $26,559,000 after acquiring an additional 55,409 shares during the period. Dimensional Fund Advisors LP increased its holdings in Access National by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 361,449 shares of the financial services provider’s stock worth $10,359,000 after purchasing an additional 37,234 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Access National by 129.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 54,447 shares of the financial services provider’s stock worth $1,561,000 after purchasing an additional 30,723 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Access National by 2.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 677,405 shares of the financial services provider’s stock worth $19,414,000 after purchasing an additional 18,387 shares in the last quarter. 37.49% of the stock is currently owned by institutional investors.

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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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