Stock Mover of the Day: Does Access National Corporation Have More Gas After Achieving 52-Week High?

Stock Mover of the Day: Does Access National Corporation Have More Gas After Achieving 52 Week High?

The stock of Access National Corporation (NASDAQ:ANCX) hit a new 52-week high and has $30.08 target or 8.00% above today’s $27.85 share price. The 6 months bullish chart indicates low risk for the $303.48M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $30.08 price target is reached, the company will be worth $24.28 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. About 19,153 shares traded hands. Access National Corporation (NASDAQ:ANCX) has risen 34.12% since April 21, 2016 and is uptrending. It has outperformed by 28.79% the S&P500.

Analysts await Access National Corporation (NASDAQ:ANCX) to report earnings on January, 19. They expect $0.40 EPS, up 8.11% or $0.03 from last year’s $0.37 per share. ANCX’s profit will be $4.36M for 17.41 P/E if the $0.40 EPS becomes a reality. After $0.41 actual EPS reported by Access National Corporation for the previous quarter, Wall Street now forecasts -2.44% negative EPS growth.

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 rating was maintained by Maxim Group on Thursday, October 20 with “Buy”. The stock has “Outperform” rating given by FBR Capital on Tuesday, October 25. Maxim Group initiated the stock with “Buy” rating in Tuesday, August 25 report. FBR Capital initiated it with “Market Perform” rating and $19 target price in Thursday, March 31 report. Raymond James upgraded it to “Market Perform” rating and $20 target price in Tuesday, August 25 report. The firm has “Market Perform” rating given on Monday, July 18 by Raymond James.

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 2.25 in Q2 2016. Its up 0.62, from 1.63 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.
State Street accumulated 77,546 shares or 0% of the stock. Blackrock Advisors Ltd Liability Corp reported 2,457 shares or 0% of all its holdings. Manufacturers Life Ins Communication The has 0.01% invested in the company for 203,448 shares. Jpmorgan Chase And Co reported 316 shares or 0% of all its holdings. Elizabeth Park Capital Advsr Ltd holds 0.35% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 41,724 shares. Spark Management accumulated 22,200 shares or 0.04% of the stock. Bancshares Of America Corporation De owns 257 shares or 0% of their US portfolio. Bnp Paribas Arbitrage has 0% invested in the company for 319 shares. California Public Employees Retirement System, a California-based fund reported 32,400 shares. American Grp Incorporated last reported 4,699 shares in the company. Ubs Asset Mgmt Americas Incorporated holds 0% or 30,448 shares in its portfolio. Plante Moran Finance Advisors Ltd Liability Company last reported 82 shares in the company. Blackrock Inv Management Limited Liability Company holds 0% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 33,256 shares. Blackrock Institutional Trust Na owns 76,411 shares or 0% of their US portfolio. Vanguard Grp Inc has 0% invested in the company for 181,762 shares.

Insider Transactions: Since June 8, 2016, the stock had 8 insider purchases, and 0 sales for $159,897 net activity. The insider Kody Thomas M bought 972 shares worth $19,994. 73 shares were bought by Taylor Margaret M, worth $1,502. Moore Mark D. bought $9,671 worth of stock.

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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