Wells Fargo & Company MN Lowers Position in Access National Corporation (ANCX)

Wells Fargo & Company MN lowered its stake in Access National Corporation (NASDAQ:ANCX) by 27.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,600 shares of the financial services provider’s stock after selling 76,867 shares during the period. Wells Fargo & Company MN owned 1.01% of Access National Corporation worth $5,453,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Access National Corporation by 127.0% in the second quarter. Franklin Resources Inc. now owns 832,389 shares of the financial services provider’s stock valued at $22,075,000 after purchasing an additional 465,689 shares in the last quarter. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of Access National Corporation in the second quarter valued at approximately $17,477,000. Vanguard Group Inc. increased its holdings in shares of Access National Corporation by 17.8% in the first quarter. Vanguard Group Inc. now owns 256,574 shares of the financial services provider’s stock valued at $7,702,000 after purchasing an additional 38,803 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $3,181,000 after purchasing an additional 48,833 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Access National Corporation by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 100,991 shares of the financial services provider’s stock valued at $2,678,000 after purchasing an additional 14,033 shares in the last quarter. 36.86% of the stock is owned by institutional investors and hedge funds.

In other Access National Corporation news, Director J Randolph Babbitt purchased 4,100 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $25.53 per share, for a total transaction of $104,673.00. Following the transaction, the director now owns 9,126 shares in the company, valued at approximately $232,986.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 4,955 shares of company stock valued at $126,168. Corporate insiders own 14.23% of the company’s stock.

A number of analysts recently weighed in on ANCX shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $29.00 price target on shares of Access National Corporation in a report on Tuesday, October 3rd. BidaskClub raised shares of Access National Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.20.

Access National Corporation (ANCX) opened at 29.07 on Thursday. The company has a market capitalization of $592.77 million, a PE ratio of 27.53 and a beta of 1.00. The firm has a 50-day moving average of $26.75 and a 200-day moving average of $27.36. Access National Corporation has a 52 week low of $22.73 and a 52 week high of $33.18.

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Access National Corporation Company Profile

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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