Noteworthy Price Action: Will Access National Corporation Run Out of Steam Soon?

Noteworthy Price Action: Will Access National Corporation Run Out of Steam Soon?

The stock of Access National Corporation (NASDAQ:ANCX) reached all time high today, Sep, 30 and still has $51.41 target or 116.00% above today’s $23.80 share price. This indicates more upside for the $251.34 million company. This technical setup was reported by If the $51.41 PT is reached, the company will be worth $291.55 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 12,655 shares traded hands. Access National Corporation (NASDAQ:ANCX) has risen 25.87% since February 26, 2016 and is uptrending. It has outperformed by 15.45% the S&P500.

Analysts await Access National Corporation (NASDAQ:ANCX) to report earnings on October, 21. They expect $0.39 earnings per share, up 5.41% or $0.02 from last year’s $0.37 per share. ANCX’s profit will be $4.12M for 15.26 P/E if the $0.39 EPS becomes a reality. After $0.46 actual earnings per share reported by Access National Corporation for the previous quarter, Wall Street now forecasts -15.22% negative EPS growth.

Access National Corporation (NASDAQ:ANCX) Ratings Coverage

Out of 4 analysts covering Access National (NASDAQ:ANCX), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Access National has been the topic of 6 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James to “Market Perform” on Monday, July 18. FBR Capital initiated the stock with “Market Perform” rating in Thursday, March 31 report. The company was initiated on Tuesday, August 25 by Maxim Group. The firm has “Market Perform” rating by Raymond James given on Tuesday, August 25.

According to Zacks Investment Research, “Access National Corporation serves as the holding company for Access National Bank and its subsidiaries, Access National Mortgage Corporation and Access National Leasing Corporation.”

Insitutional Activity: The institutional sentiment increased to 1.63 in Q2 2016. Its up 0.63, from 1 in 2016Q1. The ratio increased, as 3 funds sold all Access National Corporation shares owned while 13 reduced positions. 4 funds bought stakes while 22 increased positions. They now own 2.52 million shares or 0.93% more from 2.49 million shares in 2016Q1.
Moreover, Elizabeth Park Cap Advisors Limited has 0.35% invested in Access National Corporation (NASDAQ:ANCX) for 41,724 shares. Citigroup Inc, a New York-based fund reported 3,083 shares. Royal State Bank Of Canada holds 1,200 shares or 0% of its portfolio. Invesco Ltd holds 0% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 43,769 shares. Blackrock Inv Mngmt Lc, a New Jersey-based fund reported 33,256 shares. Blackrock Institutional Na holds 0% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 76,411 shares. Moreover, American Intl Grp Inc has 0% invested in Access National Corporation (NASDAQ:ANCX) for 4,699 shares. Thompson Davis And Company Inc has 0.01% invested in the company for 250 shares. Banc Funds Communications Limited holds 0.09% or 77,021 shares in its portfolio. Blackrock last reported 0% of its portfolio in the stock. Nationwide Fund Advsrs has invested 0% of its portfolio in Access National Corporation (NASDAQ:ANCX). Moreover, Dimensional Fund Advsrs Ltd Partnership has 0% invested in Access National Corporation (NASDAQ:ANCX) for 270,705 shares. Brandywine Inv Mgmt Limited Liability Company last reported 0% of its portfolio in the stock. Commercial Bank Of New York Mellon Corporation has 0% invested in the company for 68,671 shares. State Street Corporation has 0% invested in the company for 77,546 shares.

Insider Transactions: Since June 8, 2016, the stock had 8 insider buys, and 0 selling transactions for $159,897 net activity. On Wednesday, August 24 the insider Kody Thomas M bought $19,995. Moore Mark D. bought $28,230 worth of stock. Taylor Margaret M bought $1,496 worth of Access National Corporation (NASDAQ:ANCX) on Thursday, August 25.

ANCX Company Profile

Access National Corporation, incorporated on May 12, 2003, is a bank holding company. The Firm operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage services and wealth management services to middle market commercial businesses and associated professionals, primarily in the Washington, District of Columbia Metropolitan Area. 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. The Firm operates through three divisions: traditional commercial banking, mortgage banking and wealth management. The Company’s commercial banking segment includes loans, investment securities and deposit services. The Company’s mortgage banking segment includes mortgage loans held for sale, sales of loans in the secondary mortgage market and loan origination. The Company’s wealth management segment includes portfolio asset management. The commercial banking segment provides the mortgage banking segment with the short-term funds needed to originate mortgage loans through a warehouse line of credit and charges interest to the mortgage banking segment based on a premium over their cost to borrow funds.

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