The stock of Access National Corporation (NASDAQ:ANCX) reached all time high today, Nov, 21 and still has $48.40 target or 78.00% above today’s $27.19 share price. This indicates more upside for the $291.20M company. This technical setup was reported by Barchart.com. If the $48.40 PT is reached, the company will be worth $227.14M 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 42,452 shares traded hands. Access National Corporation (NASDAQ:ANCX) has risen 29.21% since April 19, 2016 and is uptrending. It has outperformed by 25.35% 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 stock has “Buy” rating given by Maxim Group on Tuesday, August 25. The stock has “Market Perform” rating given by FBR Capital on Thursday, March 31. The firm has “Market Perform” rating given on Tuesday, August 25 by Raymond James. FBR Capital upgraded the stock to “Outperform” rating in Tuesday, October 25 report. Maxim Group maintained Access National Corporation (NASDAQ:ANCX) rating on Thursday, October 20. Maxim Group has “Buy” rating and $29 price target. The rating was downgraded by Raymond James to “Market Perform” on Monday, July 18.
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.
Legal & General Group Plc last reported 1,021 shares in the company. Geode Cap Lc has 46,420 shares for 0% of their US portfolio. Blackrock Advsrs Ltd Liability Corp has invested 0% of its portfolio in Access National Corporation (NASDAQ:ANCX). The Georgia-based Earnest Prtn Limited Co has invested 0% in Access National Corporation (NASDAQ:ANCX). Ubs Asset Mngmt Americas Inc reported 30,448 shares or 0% of all its holdings. State Street reported 77,546 shares or 0% of all its holdings. First Quadrant L P Ca accumulated 2,100 shares or 0% of the stock. First Manhattan Commerce holds 125,267 shares or 0.02% of its portfolio. Wedge Cap Mngmt L Ltd Partnership Nc holds 0% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 13,400 shares. Deutsche Bancshares Ag holds 0% of its portfolio in Access National Corporation (NASDAQ:ANCX) for 14,278 shares. Renaissance Technology Limited Liability has invested 0.01% of its portfolio in Access National Corporation (NASDAQ:ANCX). California Pub Employees Retirement Sys has invested 0% of its portfolio in Access National Corporation (NASDAQ:ANCX). Blackrock last reported 0% of its portfolio in the stock. Wells Fargo And Mn accumulated 0% or 178,207 shares. Bridgeway Cap Mngmt Incorporated reported 36,800 shares or 0.01% of all its holdings.
Insider Transactions: Since June 8, 2016, the stock had 8 buys, and 0 selling transactions for $159,897 net activity. Shares for $1,502 were bought by Taylor Margaret M. Shares for $7,780 were bought by Moore Mark D. on Tuesday, June 28. On Wednesday, August 24 Kody Thomas M bought $19,995 worth of the stock or 949 shares.
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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