Zacks Investment Research Downgrades Access National (ANCX) to Hold

Access National (NASDAQ:ANCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

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 reports. Maxim Group reiterated a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Access National in a research note on Monday, October 30th. BidaskClub downgraded shares of Access National from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Sandler O’Neill set a $30.00 price objective on shares of Access National and gave the stock a “hold” rating in a research note on Thursday, January 4th. Stephens initiated coverage on shares of Access National in a research note on Thursday, November 16th. They set an “overweight” rating and a $31.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $30.00 price objective on shares of Access National in a research note on Sunday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $31.00.

Shares of Access National (NASDAQ ANCX) opened at $28.37 on Monday. Access National has a one year low of $24.36 and a one year high of $33.18. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The company has a market cap of $571.04, a price-to-earnings ratio of 27.02 and a beta of 0.95.

In other Access National news, insider Mark D. Moore bought 3,972 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average cost of $27.84 per share, for a total transaction of $110,580.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 4,744 shares of company stock valued at $132,073 over the last 90 days. 14.23% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its position 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. Franklin Resources Inc. raised its position in shares of Access National by 127.0% in the second quarter. Franklin Resources Inc. now owns 832,389 shares of the financial services provider’s stock worth $22,075,000 after acquiring an additional 465,689 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of 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 acquiring an additional 18,387 shares during the period. Vanguard Group Inc. raised its position in shares of Access National by 134.8% in the second quarter. Vanguard Group Inc. now owns 602,356 shares of the financial services provider’s stock worth $15,974,000 after acquiring an additional 345,782 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Access National by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 402,215 shares of the financial services provider’s stock worth $10,666,000 after acquiring an additional 28,042 shares during the period. Institutional investors and hedge funds own 37.49% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2018/01/10/zacks-investment-research-downgrades-access-national-ancx-to-hold.html.

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.

Get a free copy of the Zacks research report on Access National (ANCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Access National (NASDAQ:ANCX)

Receive News & Ratings for Access National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Access National and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit