Zacks Investment Research upgraded shares of Access National (NASDAQ:ANCX) from a sell rating to a hold rating in a research note published on Tuesday morning.
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 topic of several other research reports. BidaskClub lowered Access National from a hold rating to a sell rating in a report on Saturday, December 9th. Sandler O’Neill set a $30.00 price objective on Access National and gave the stock a hold rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Access National presently has an average rating of Buy and a consensus target price of $31.00.
Access National (NASDAQ:ANCX) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $32.59 million for the quarter, compared to analyst estimates of $31.77 million. Access National had a return on equity of 8.72% and a net margin of 11.96%. analysts predict that Access National will post 1.95 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Access National by 3.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 436,404 shares of the financial services provider’s stock worth $12,149,000 after buying an additional 13,053 shares during the last quarter. Penn Capital Management Co. Inc. grew its holdings in shares of Access National by 6.6% during the fourth quarter. Penn Capital Management Co. Inc. now owns 153,184 shares of the financial services provider’s stock worth $4,265,000 after buying an additional 9,507 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Access National by 129.5% during 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 buying an additional 30,723 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Access National during the fourth quarter worth about $291,000. Finally, Context BH Capital Management LP grew its holdings in shares of Access National by 10.4% during the fourth quarter. Context BH Capital Management LP now owns 45,003 shares of the financial services provider’s stock worth $1,253,000 after buying an additional 4,241 shares during the last quarter. 36.95% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/3337977/access-national-ancx-stock-rating-upgraded-by-zacks-investment-research.html.
Access National Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.