Access National (ANCX) Lifted to “Outperform” at Raymond James

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Access National (NASDAQ:ANCX) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Monday, Marketbeat.com reports.

Several other brokerages have also recently weighed in on ANCX. BidaskClub upgraded shares of Access National from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 16th. Maxim Group reiterated a “buy” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Access National in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of Access National from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Thursday, October 11th. Stephens reiterated a “buy” rating and issued a $31.00 price objective on shares of Access National in a research note on Tuesday, July 31st. Finally, Keefe, Bruyette & Woods upgraded shares of Access National from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $29.00 to $34.00 in a research note on Monday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.80.

NASDAQ ANCX opened at $25.67 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $523.91 million, a PE ratio of 15.94 and a beta of 0.63. Access National has a 52-week low of $23.95 and a 52-week high of $30.40.

Access National (NASDAQ:ANCX) last issued its quarterly earnings data on Friday, October 26th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Access National had a net margin of 20.79% and a return on equity of 8.26%. The business had revenue of $31.51 million during the quarter, compared to analysts’ expectations of $31.23 million. As a group, equities research analysts expect that Access National will post 1.68 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Access National by 61.9% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 64,110 shares of the financial services provider’s stock valued at $1,738,000 after buying an additional 24,510 shares during the period. First Trust Advisors LP increased its holdings in Access National by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 51,882 shares of the financial services provider’s stock valued at $1,407,000 after buying an additional 5,727 shares during the period. Northern Trust Corp increased its holdings in Access National by 7.2% in the 2nd quarter. Northern Trust Corp now owns 201,639 shares of the financial services provider’s stock valued at $5,767,000 after buying an additional 13,585 shares during the period. Raymond James & Associates increased its holdings in Access National by 4.1% in the 2nd quarter. Raymond James & Associates now owns 63,640 shares of the financial services provider’s stock valued at $1,820,000 after buying an additional 2,524 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Access National by 0.5% in the 2nd quarter. Renaissance Technologies LLC now owns 404,695 shares of the financial services provider’s stock valued at $11,574,000 after buying an additional 1,890 shares during the period. Institutional investors and hedge funds 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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Analyst Recommendations for Access National (NASDAQ:ANCX)

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