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%.
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.
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