Montgomery Investment Management Inc. Purchases Shares of 18,339 Access National Corporation (NASDAQ:ANCX)

Montgomery Investment Management Inc. purchased a new position in Access National Corporation (NASDAQ:ANCX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,339 shares of the financial services provider’s stock, valued at approximately $486,000. Montgomery Investment Management Inc. owned about 0.09% of Access National Corporation at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Palladium Partners LLC acquired a new position in shares of Access National Corporation during the second quarter worth about $353,000. Russell Investments Group Ltd. raised its position in shares of Access National Corporation by 160.9% in the second quarter. Russell Investments Group Ltd. now owns 10,980 shares of the financial services provider’s stock worth $291,000 after buying an additional 6,772 shares during the period. RE Advisers Corp acquired a new position in shares of Access National Corporation during the second quarter worth about $2,449,000. Goldman Sachs Group Inc. raised its position in shares of Access National Corporation by 39.0% in the first quarter. Goldman Sachs Group Inc. now owns 16,475 shares of the financial services provider’s stock worth $495,000 after buying an additional 4,621 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Access National Corporation by 85.5% in the first quarter. Geode Capital Management LLC now owns 105,968 shares of the financial services provider’s stock worth $3,181,000 after buying an additional 48,833 shares during the period. Institutional investors own 23.60% of the company’s stock.

Access National Corporation (NASDAQ:ANCX) traded down 0.08% during mid-day trading on Friday, hitting $24.70. The stock had a trading volume of 54,477 shares. Access National Corporation has a 1-year low of $21.18 and a 1-year high of $33.18. The stock has a 50 day moving average of $26.35 and a 200-day moving average of $27.48. The firm has a market cap of $503.66 million, a P/E ratio of 23.39 and a beta of 0.95.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be given a $0.15 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.43%. Access National Corporation’s payout ratio is 59.41%.

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Separately, Zacks Investment Research upgraded Access National Corporation from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.14.

About Access National Corporation

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.

Institutional Ownership by Quarter for Access National Corporation (NASDAQ:ANCX)

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