The stock of Access National Corporation (NASDAQ:ANCX) hit a new 52-week high and has $45.75 target or 72.00% above today’s $26.60 share price. The 5 months bullish chart indicates low risk for the $285.78M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $45.75 price target is reached, the company will be worth $205.76 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $26.6 per share. It is down 30.78% since April 15, 2016 and is uptrending. It has outperformed by 26.15% the S&P500.
Access National Corporation (NASDAQ:ANCX) Ratings Coverage
Out of 4 analysts covering Access National (NASDAQ:ANCX), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Access National has been the topic of 8 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Tuesday, October 25 by FBR Capital. The rating was maintained by Maxim Group with “Buy” on Thursday, October 20. On Thursday, March 31 the stock rating was initiated by FBR Capital with “Market Perform”. Maxim Group initiated the shares of ANCX in a report on Tuesday, August 25 with “Buy” rating. The stock has “Market Perform” rating given by Raymond James on Monday, July 18. 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 2016 Q2. Its up 0.63, from 1 in 2016Q1. The ratio improved, 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.
Dimensional Fund Advisors Limited Partnership accumulated 0% or 270,705 shares. Ativo Capital Management last reported 0.21% of its portfolio in the stock. Tiaa Cref Inv Llc last reported 23,864 shares in the company. Royal Comml Bank Of Canada holds 0% or 1,200 shares in its portfolio. State Street Corp has 0% invested in the company for 77,546 shares. Chicago Equity Prns Limited Com holds 24,191 shares or 0.01% of its portfolio. Renaissance Technologies Llc has 172,800 shares for 0.01% of their US portfolio. The California-based California Employees Retirement System has invested 0% in Access National Corporation (NASDAQ:ANCX). Davenport And Communications Lc has invested 0% of its portfolio in Access National Corporation (NASDAQ:ANCX). Banc Funds Company Ltd has 77,021 shares for 0.09% of their US portfolio. Blackrock Institutional Tru Na holds 76,411 shares or 0% of its portfolio. Brandywine Investment Mgmt Llc reported 3,670 shares or 0% of all its holdings. Blackrock Mngmt Limited Liability Corp has 33,256 shares for 0% of their US portfolio. Bnp Paribas Arbitrage, a New York-based fund reported 319 shares. Invesco has invested 0% of its portfolio in Access National Corporation (NASDAQ:ANCX).
Insider Transactions: Since June 8, 2016, the stock had 8 insider purchases, and 0 insider sales for $159,897 net activity. 400 Access National Corporation (NASDAQ:ANCX) shares with value of $7,780 were bought by Moore Mark D.. 949 shares were bought by Kody Thomas M, worth $19,995 on Wednesday, August 24. Taylor Margaret M bought 73 shares worth $1,502.
Another recent and important Access National Corporation (NASDAQ:ANCX) news was published by Bizjournals.com which published an article titled: “Access National, Middleburg Financial announce merger” on October 24, 2016.
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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