Merion Capital Initiates Coverage On Access National Corporation to Neutral with Price Target $31

Merion Capital Initiates Coverage On Access National Corporation(ANCX). In a research note issued to the investors, the brokerage major Announces the price-target to $31 per share. The shares have been rated Neutral. The rating by the stock financial advisor at Merion Capital was issued on Mar 27, 2017 in a research report to their Investors and Clients.

Access National Corporation (ANCX) made into the market gainers list on Fridays trading session with the shares advancing 1.90% or 0.53 points. Due to strong positive momentum, the stock ended at $28.44, which is also near the day’s high of $28.55. The stock began the session at $28.22 and the volume stood at 57,380 shares. The 52-week high of the shares is $29.28 and the 52 week low is $18. The company has a current market capitalization of $306 M and it has 1,07,66,678 shares in outstanding.

Access National Corporation(ANCX) last announced its earnings results on Jan 20, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $11.257M. Analysts had an estimated revenue of $11.410M. Earnings per share were $0.33. Analysts had estimated an EPS of $0.4.

Several Insider Transactions has been reported to the SEC. On Nov 29, 2016, Thomas M Kody (director) purchased 891 shares at $22.45 per share price.Also, On Nov 29, 2016, Margaret M Taylor (Executive Vice President, CFO) purchased 67 shares at $22.45 per share price.On Aug 29, 2016, Mark D. Moore (President (subsidiary) purchased 459 shares at $21.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Access National Corporation is a bank holding company. The Company operates through its wholly owned 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. The Company operates in three segments: traditional commercial banking mortgage banking and wealth management. Commercial banking operating revenues consist of interest earned on loans and investment securities and fees from deposit services. Mortgage banking operating revenues consist of interest earned on mortgage loans held for sale gains on sales of loans in the secondary mortgage market and loan origination fee income. Wealth management operating revenues consist of transactional fees charged to clients as well as fees for portfolio asset management.

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