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Access National

Nasdaq:ANCX
Snowflake Description

Flawless balance sheet 6 star dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ANCX
Nasdaq
$498M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Access National Corporation operates as the bank holding company for Access National Bank that provides credit, deposit, mortgage, and wealth management services to small and medium sized businesses, professionals, and associated individuals primarily in the greater Washington, D.C. The last earnings update was 7 days ago. More info.


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ANCX Share Price and Events
7 Day Returns
-2.5%
NasdaqGM:ANCX
1.1%
US Banks
0.4%
US Market
1 Year Returns
-20%
NasdaqGM:ANCX
-13.6%
US Banks
-7%
US Market
ANCX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Access National (ANCX) -2.5% 7.6% -11.2% -20% 42.8% 53.6%
US Banks 1.1% 12.2% -2.3% -13.6% 55.6% 51.2%
US Market 0.4% 6.3% -3.6% -7% 38.9% 42.5%
1 Year Return vs Industry and Market
  • ANCX underperformed the Banks industry which returned -13.6% over the past year.
  • ANCX underperformed the Market in United States of America which returned -7% over the past year.
Price Volatility
ANCX
Industry
5yr Volatility vs Market

ANCX Value

 Is Access National undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Access National to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Access National.

NasdaqGM:ANCX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $23.20 * 8.5%
$1.96
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $23.20
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:ANCX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.612 (1 + (1- 21%) (60.46%))
1.183
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.183 * 7.27%)
11.33%

Discounted Cash Flow Calculation for NasdaqGM:ANCX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Access National is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:ANCX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 11.33%) * $23.20)
$-0.66
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.66 / (11.33% - 2.73%)
$-7.72
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $23.20 + $-7.72
$15.48
NasdaqGM:ANCX Discount to Share Price
Calculation Result
Value per share (USD) From above. $15.48
Current discount Discount to share price of $23.61
= -1 x ($23.61 - $15.48) / $15.48
-52.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Access National is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Access National's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Access National's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:ANCX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.70
NasdaqGM:ANCX Share Price ** NasdaqGM (2019-01-31) in USD $23.61
United States of America Banks Industry PE Ratio Median Figure of 576 Publicly-Listed Banks Companies 13.53x
United States of America Market PE Ratio Median Figure of 3,031 Publicly-Listed Companies 16.66x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Access National.

NasdaqGM:ANCX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:ANCX Share Price ÷ EPS (both in USD)

= 23.61 ÷ 1.70

13.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Access National is overvalued based on earnings compared to the US Banks industry average.
  • Access National is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Access National's expected growth come at a high price?
Raw Data
NasdaqGM:ANCX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
8.7%per year
United States of America Banks Industry PEG Ratio Median Figure of 255 Publicly-Listed Banks Companies 1.18x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

NasdaqGM:ANCX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.88x ÷ 8.7%

1.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Access National is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Access National's assets?
Raw Data
NasdaqGM:ANCX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $21.58
NasdaqGM:ANCX Share Price * NasdaqGM (2019-01-31) in USD $23.61
United States of America Banks Industry PB Ratio Median Figure of 583 Publicly-Listed Banks Companies 1.22x
United States of America Market PB Ratio Median Figure of 5,105 Publicly-Listed Companies 1.76x
NasdaqGM:ANCX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:ANCX Share Price ÷ Book Value per Share (both in USD)

= 23.61 ÷ 21.58

1.09x

* Primary Listing of Access National.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Access National is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Access National's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Access National has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ANCX Future Performance

 How is Access National expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Access National expected to grow at an attractive rate?
  • Access National's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Access National's earnings growth is positive but not above the United States of America market average.
  • Access National's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:ANCX Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:ANCX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 8.7%
NasdaqGM:ANCX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 8%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:ANCX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:ANCX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 141 42 1
2019-12-31 133 39 4
NasdaqGM:ANCX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 121 35
2018-09-30 121 38 30
2018-06-30 122 23 27
2018-03-31 123 39 22
2017-12-31 110 32 17
2017-09-30 98 65 16
2017-06-30 85 36 14
2017-03-31 72 33 15
2016-12-31 73 26 16
2016-09-30 73 -14 17
2016-06-30 70 15 17
2016-03-31 67 25 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Access National's earnings are expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).
  • Access National's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:ANCX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Access National Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:ANCX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.01 2.01 2.00 2.00
2019-12-31 1.86 1.95 1.76 5.00
NasdaqGM:ANCX Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.70
2018-09-30 1.44
2018-06-30 1.32
2018-03-31 1.07
2017-12-31 0.92
2017-09-30 1.06
2017-06-30 1.06
2017-03-31 1.40
2016-12-31 1.55
2016-09-30 1.64
2016-06-30 1.60
2016-03-31 1.51

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Access National is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Access National's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Access National has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ANCX Past Performance

  How has Access National performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Access National's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Access National's year on year earnings growth rate has been positive over the past 5 years.
  • Access National's 1-year earnings growth exceeds its 5-year average (114.4% vs 17.2%)
  • Access National's earnings growth has exceeded the US Banks industry average in the past year (114.4% vs 28.8%).
Earnings and Revenue History
Access National's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Access National Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:ANCX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 121.45 35.38 52.97
2018-09-30 121.03 29.70 56.07
2018-06-30 122.44 27.10 56.93
2018-03-31 123.14 21.98 57.29
2017-12-31 109.55 16.50 52.03
2017-09-30 97.80 16.46 47.02
2017-06-30 84.66 13.88 41.78
2017-03-31 72.32 14.92 36.30
2016-12-31 73.39 16.40 35.89
2016-09-30 72.73 17.32 34.98
2016-06-30 70.16 16.84 33.48
2016-03-31 67.08 15.94 32.03
2015-12-31 65.46 15.42 31.09
2015-09-30 63.85 15.02 30.51
2015-06-30 61.64 16.00 29.66
2015-03-31 58.87 15.08 28.53
2014-12-31 54.53 13.93 26.58
2014-09-30 51.99 13.60 25.12
2014-06-30 50.23 11.48 24.78
2014-03-31 52.33 11.94 25.75
2013-12-31 59.64 13.21 29.30
2013-09-30 71.36 16.28 33.15
2013-06-30 79.37 17.60 36.20
2013-03-31 84.29 17.97 37.35
2012-12-31 84.83 17.72 37.82
2012-09-30 79.87 14.78 37.35
2012-06-30 76.51 13.76 36.12
2012-03-31 70.47 12.54 34.47

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Access National has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Access National used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Access National improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Access National's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Access National has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ANCX Health

 How is Access National's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Access National's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Access National Company Filings, last reported 1 month ago.

NasdaqGM:ANCX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 454.81 300.89 85.35
2018-09-30 441.94 261.50 126.33
2018-06-30 434.28 338.86 124.93
2018-03-31 426.65 187.32 146.34
2017-12-31 421.62 189.88 17.70
2017-09-30 420.17 143.39 131.93
2017-06-30 414.87 139.27 68.66
2017-03-31 124.17 111.83 45.61
2016-12-31 120.53 246.01 49.47
2016-09-30 121.33 116.34 83.95
2016-06-30 118.39 131.76 81.54
2016-03-31 114.04 132.47 41.63
2015-12-31 109.14 146.13 37.86
2015-09-30 107.63 69.70 44.87
2015-06-30 104.52 148.37 91.50
2015-03-31 102.59 171.27 44.93
2014-12-31 98.90 185.64 56.03
2014-09-30 99.74 175.86 68.71
2014-06-30 96.14 101.00 48.38
2014-03-31 93.58 17.75 62.17
2013-12-31 91.13 172.86 23.42
2013-09-30 96.42 64.70 71.78
2013-06-30 94.58 76.83 47.90
2013-03-31 93.97 39.07 52.88
2012-12-31 91.27 89.90 36.79
2012-09-30 92.78 37.54 56.56
2012-06-30 89.05 59.18 34.49
2012-03-31 85.61 42.43 37.26
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Access National has an acceptable proportion of non-loan assets held.
  • Access National's liabilities are made up of primarily low risk sources of funding.
  • Loans at Access National are broadly funded by customer deposits.
  • Access National's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Access National has a sufficient allowance for bad loans.
  • Access National has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Access National's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Access National has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ANCX Dividends

 What is Access National's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.9%
Current annual income from Access National dividends. Estimated to be 2.93% next year.
If you bought $2,000 of Access National shares you are expected to receive $78 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Access National's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Access National's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:ANCX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 463 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1988 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:ANCX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.70 2.00
2019-12-31 0.69 5.00
NasdaqGM:ANCX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-25 0.920 3.792
2018-11-09 0.680 2.850
2018-10-25 0.680 2.612
2018-08-10 0.640 2.355
2018-07-26 0.640 2.300
2018-05-10 0.600 2.081
2018-04-26 0.600 2.174
2018-04-05 0.600 2.061
2018-01-30 0.600 2.084
2017-11-09 0.600 2.094
2017-11-01 0.600 2.131
2017-10-25 0.600 2.055
2017-08-11 0.600 2.244
2017-08-01 0.600 2.293
2017-03-20 0.600 2.156
2017-03-16 0.600 2.225
2017-01-20 0.600 2.219
2016-11-10 0.600 2.153
2016-11-09 0.600 2.397
2016-10-17 0.600 2.481
2016-08-09 0.600 2.615
2016-07-15 0.600 2.742
2016-05-10 0.600 2.995
2016-04-15 0.600 3.008
2016-03-15 0.600 3.168
2016-01-21 0.600 3.271
2015-11-09 0.600 2.916
2015-10-16 0.600 2.810
2015-08-10 0.600 3.013
2015-07-17 0.600 2.982
2015-05-11 0.600 2.892
2015-04-17 0.600 3.162
2014-10-17 0.560 3.163
2014-07-18 0.520 3.186
2014-04-21 0.480 3.260
2014-01-21 0.440 2.705
2013-10-21 0.440 2.940
2013-07-23 0.440 2.996
2013-04-22 0.400 3.080
2013-01-22 0.360 2.415
2012-11-20 0.320 2.316
2012-11-14 0.320 2.617
2012-10-23 0.320 2.495
2012-07-23 0.240 1.758
2012-04-24 0.240 1.895
2012-01-31 0.200 1.897
2011-10-19 0.160 1.867
2011-07-20 0.160 1.983
2011-04-20 0.120 1.599
2011-01-26 0.080 1.134
2010-10-21 0.040 0.616
2010-07-23 0.040 0.662
2010-04-22 0.040 0.661
2010-01-28 0.040 0.658
2009-10-21 0.040 0.668
2009-07-22 0.040 0.635
2009-04-22 0.040 0.681
2009-02-02 0.040 0.874

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Access National's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Access National's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Access National afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Access National has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ANCX Management

 What is the CEO of Access National's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Clarke
COMPENSATION $692,471
AGE 56
TENURE AS CEO 16.8 years
CEO Bio

Mr. Michael W. Clarke, also known as Mike, has been the Chief Executive Officer and President of Access National Corporation since April 18, 2002. Mr. Clarke has been the Chief Executive Officer of Access National Bank since 1999 and served as its President until June 23, 2016. He has over 25 years of experience in banking industry. He served as Executive Vice President of Patriot National Bank, a subsidiary of UB Holding Company, Inc. (also called as First Patriot Bankshares Corp.) since April, 1990 and served as its Senior Loan Officer. Mr. Clarke served as Chief Credit Officer of Patriot National Bank/United Bank, Vienna, Virginia from 1990 to 1997. He served as Vice President of Commercial Lending at Crestar Bank in Alexandria, Virginia, from 1985 to 1989, where he was responsible for the development and maintenance of middle market lending relationships in western Fairfax, Loundon and Prince William Counties. Mr. Clarke served as the Chairman of Access National Corp. from February 2009 to January 26, 2011. He has been a Director of Access National Corp. since April 18, 2002 and Access National Bank since 1999. Mr. Clarke has been a Director at Access National Corporation since April 18, 2002. He serves on the Pamplin College of Business Advisory Council, Chair of the Department of Finance Advisory Board at Virginia Tech, Chair of the Adult Community Education Foundation in Fairfax County and on the Advisory Board of Salem Halifax Capital Partners. He previously served as Chairman of the Greater Reston Chamber of Commerce, Chairman of IncSpire, the Reston Business Incubator, Chairman of "The Best of Reston" benefiting Reston Interfaith and a variety of active roles with the Optimists, Lions Club, Special Olympics and Brain Injury Services. He holds a BS degree in Finance from Virginia Tech.

CEO Compensation
  • Mike's compensation has been consistent with company performance over the past year.
  • Mike's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Access National management team in years:

14.4
Average Tenure
54
Average Age
  • The average tenure for the Access National management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Clarke

TITLE
President
COMPENSATION
$692K
AGE
56
TENURE
16.8 yrs

Meg Taylor

TITLE
Executive VP & CFO
COMPENSATION
$358K
AGE
54
TENURE
6.7 yrs

Bob Shoemaker

TITLE
Executive VP & Director
COMPENSATION
$544K
AGE
57
TENURE
20.1 yrs

Dean Hackemer

TITLE
President of Access National Mortgage Division - Access National Bank
COMPENSATION
$838K
AGE
53
TENURE
14.4 yrs

Mark Moore

TITLE
President & Director of Access National Bank
COMPENSATION
$431K
AGE
54
TENURE
2.7 yrs

Stephanie Ogle

TITLE
Chief Administrative Officer & Executive VP

Sheila Linton

TITLE
VP, Corporate Secretary & Investor Relations
AGE
47

Steve Reeder

TITLE
Executive Vice President and Chief Deposit Officer
AGE
51

Cindy Caldwell

TITLE
Senior VP & Veterinary Team Leader

Patricia Fisher

TITLE
Senior Vice President of Loan Admin
Board of Directors Tenure

Average tenure and age of the Access National board of directors in years:

7.9
Average Tenure
56.5
Average Age
  • The tenure for the Access National board of directors is about average.
Board of Directors

John Lee

TITLE
Chairman of the Board
COMPENSATION
$91K
AGE
60
TENURE
1.8 yrs

Mike Clarke

TITLE
President
COMPENSATION
$692K
AGE
56
TENURE
17.1 yrs

Mike Anzilotti

TITLE
Vice Chairman of the Board
COMPENSATION
$169K
AGE
68
TENURE
1.8 yrs

Bob Shoemaker

TITLE
Executive VP & Director
COMPENSATION
$544K
AGE
57
TENURE
17.1 yrs

Mark Moore

TITLE
President & Director of Access National Bank
COMPENSATION
$431K
AGE
54
TENURE
2.7 yrs

Martin Friedman

TITLE
Director
COMPENSATION
$153K
AGE
49
TENURE
9.4 yrs

Jan Neuharth

TITLE
Director
COMPENSATION
$55K
AGE
63
TENURE
1.8 yrs

Skip Edgemond

TITLE
Director
COMPENSATION
$136K
AGE
56
TENURE
17.1 yrs

Thomas Kody

TITLE
Director
COMPENSATION
$128K
AGE
56
TENURE
17.1 yrs

Randy Babbitt

TITLE
Director
COMPENSATION
$133K
AGE
71
TENURE
6.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Access National insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Nov 18 Buy Thomas Kody Individual 23. Nov 18 23. Nov 18 831 $24.06 $20,002
27. Nov 18 Buy Janet Neuharth Individual 23. Nov 18 23. Nov 18 249 $24.06 $6,001
27. Nov 18 Buy Margaret Taylor Individual 23. Nov 18 23. Nov 18 62 $24.06 $1,500
27. Nov 18 Buy Mark Moore Individual 23. Nov 18 23. Nov 18 25 $24.06 $600
27. Aug 18 Buy Thomas Kody Individual 24. Aug 18 24. Aug 18 751 $26.63 $20,000
27. Aug 18 Buy Margaret Taylor Individual 24. Aug 18 24. Aug 18 56 $26.63 $1,500
27. Aug 18 Buy Janet Neuharth Individual 24. Aug 18 24. Aug 18 225 $26.63 $6,000
27. Aug 18 Buy Mark Moore Individual 24. Aug 18 24. Aug 18 23 $26.63 $600
27. Aug 18 Buy Mary McDaniel Individual 24. Aug 18 24. Aug 18 394 $26.63 $10,500
30. May 18 Buy Margaret Taylor Individual 25. May 18 25. May 18 55 $27.40 $1,500
30. May 18 Buy Janet Neuharth Individual 25. May 18 25. May 18 219 $27.40 $6,000
30. May 18 Buy Mark Moore Individual 25. May 18 25. May 18 22 $27.40 $600
30. May 18 Buy Mary McDaniel Individual 25. May 18 25. May 18 383 $27.40 $10,500
30. May 18 Buy Thomas Kody Individual 25. May 18 25. May 18 730 $27.40 $20,000
18. May 18 Buy Michael Clarke Individual 16. May 18 17. May 18 4,000 $27.69 $110,440
27. Feb 18 Buy Thomas Kody Individual 23. Feb 18 23. Feb 18 728 $27.47 $20,000
27. Feb 18 Buy Margaret Taylor Individual 23. Feb 18 23. Feb 18 55 $27.47 $1,500
27. Feb 18 Buy Janet Neuharth Individual 23. Feb 18 23. Feb 18 218 $27.47 $6,000
27. Feb 18 Buy Mark Moore Individual 23. Feb 18 23. Feb 18 22 $27.47 $600
27. Feb 18 Buy Mary McDaniel Individual 23. Feb 18 23. Feb 18 364 $27.47 $10,000
X
Management checks
We assess Access National's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Access National has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ANCX News

Simply Wall St News

Financial Metrics For Access National Corporation (NASDAQ:ANCX)

Access National Corporation’s (NASDAQ:ANCX) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$573.6m. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … Today we will be measuring Access National’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Access National Corporation (NASDAQ:ANCX): What You Have To Know Before Buying For The Upcoming Dividend

Have you been keeping an eye on Access National Corporation's (NASDAQ:ANCX) upcoming dividend of US$0.16 per share payable on the 24 August 2018? … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

Does Access National Corporation's (NASDAQ:ANCX) PE Ratio Warrant A Sell?

Access National Corporation (NASDAQ:ANCX) is currently trading at a trailing P/E of 27x, which is higher than the industry average of 16.6x. … While ANCX might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will break down what the P/E ratio is, how to interpret it and what to watch out for

Simply Wall St -

Why Access National Corporation (NASDAQ:ANCX) Delivered An Inferior ROE Compared To The Industry

and want to begin learning the link between Access National Corporation (NASDAQ:ANCX)’s return fundamentals and stock market performance. … Access National Corporation (NASDAQ:ANCX) generated a below-average return on equity of 5.15% in the past 12 months, while its industry returned 8.45%. … ANCX's results could indicate a relatively inefficient operation to its peers, and while this may be the case, it is important to understand what ROE is made up of and how it should be interpreted.

Simply Wall St -

Is Access National Corporation (NASDAQ:ANCX) Undervalued After Accounting For Its Future Growth?

Looking at Access National Corporation’s (NASDAQ:ANCX) fundamentals some investors are wondering if its last closing price of $29.62 represents a good value for money for this high growth stock. … View out our latest analysis for Access National? … The excitement around Access National's growth potential is not unfounded

Simply Wall St -

What Makes Access National Corporation (NASDAQ:ANCX) An Attractive Investment?

I've been keeping an eye on Access National Corporation (NASDAQ:ANCX) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe ANCX has a lot to offer. … that has been able to sustain great financial health over the past

Simply Wall St -

Is Access National Corporation (NASDAQ:ANCX) A Smart Choice For Dividend Investors?

Check out our latest analysis for Access National 5 questions I ask before picking a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is its annual yield among the top 25% of dividend payers? … NasdaqGM:ANCX Historical Dividend Yield Jun 5th 18 Does Access National pass our checks? … Next Steps: Keeping in mind the dividend characteristics above, Access National is definitely worth considering for investors looking to build a dedicated income portfolio.

Simply Wall St -

Does Access National Corporation's (NASDAQ:ANCX) Recent Track Record Look Strong?

When Access National Corporation (NASDAQ:ANCX) released its most recent earnings update (31 March 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … For Access National, its most recent earnings (trailing twelve month) is US$23.22M, which compared to the previous year's level, has escalated by an impressive 55.65%. … This suggests that whatever uplift the industry is profiting from, Access National is able to leverage this to its advantage.What does this mean?

Simply Wall St -

Best-In-Class Financial Dividend Stocks

(NASDAQ:MHLD) MHLD has a juicy dividend yield of 7.45% and a reasonably sustainable dividend payout ratio , and analysts are expecting a 59.14% payout ratio in the next three years. … NasdaqGS:MHLD Historical Dividend Yield May 10th 18 New York Mortgage Trust, Inc. … (NASDAQ:NYMT) NYMT has a large dividend yield of 13.07% and their payout ratio stands at 79.88% , with analysts expecting the payout ratio in three years to be 114.55%.

Simply Wall St -

Only 3 Days Left Before Access National Corporation (NASDAQ:ANCX) Will Start Trading Ex-Dividend, Should You Buy?

Important news for shareholders and potential investors in Access National Corporation (NASDAQ:ANCX): The dividend payment of $0.15 per share will be distributed into shareholder on 25 May 2018, and the stock will begin trading ex-dividend at an earlier date, 09 May 2018. … View our latest analysis for Access National How I analyze a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it paying an annual yield above 75% of dividend payers? … Next Steps: With these dividend metrics in mind, I definitely rank Access National as a strong income stock, and is worth further research for anyone who considers dividends an important part of their portfolio strategy.

Simply Wall St -

ANCX Company Info

Map
Description

Access National Corporation operates as the bank holding company for Access National Bank that provides credit, deposit, mortgage, and wealth management services to small and medium sized businesses, professionals, and associated individuals primarily in the greater Washington, D.C. Metropolitan Area. The company operates through three segments: Commercial Banking, Mortgage Banking, and Wealth Management. It offers checking, savings/money market, sweep, and zero balance accounts; investment management, financial planning, lockbox payment processing, payroll, and retirement account services, as well as certificates of deposit, qualified and employer sponsored retirement plans, and overnight investments; and loan products, including residential mortgage, asset secured, business investment, construction, and lot and land loans. In addition, the company provides lending products, such as accounts receivable lines of credit and collection; growth capital term loans; partner buyout funding; business acquisition, franchise, and equipment financing, as well as debt re-financing; and commercial mortgage and construction, and SBA preferred lender loans. The company operates from 15 banking centers located in Chantilly, Tysons, Reston, Leesburg, Manassas, Arlington, Alexandria, Ashburn, Gainesville, Marshall, Middleburg, Purcellville, Richmond, and Warrenton in Virginia. Access National Corporation was founded in 1999 and is headquartered in Reston, Virginia.

Details
Name: Access National Corporation
ANCX
Exchange: NasdaqGM
Founded: 1999
$497,661,803
21,078,433
Website: http://www.accessnationalbank.com
Address: Access National Corporation
1800 Robert Fulton Drive,
Suite 300,
Reston,
Virginia, 20191,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM ANCX Common Stock Nasdaq Global Market US USD 19. Jul 2004
Number of employees
Current staff
Staff numbers
415
Access National employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/01 01:42
End of day share price update: 2019/01/31 00:00
Last estimates confirmation: 2019/01/25
Last earnings filing: 2019/01/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.