ACNB (NASDAQ:ACNB) Price Target Cut to $37.00 by Analysts at Piper Sandler

ACNB (NASDAQ:ACNB) had its price target lowered by Piper Sandler from $40.00 to $37.00 in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Separately, StockNews.com upgraded ACNB from a sell rating to a hold rating in a report on Tuesday.

ACNB Price Performance

Shares of ACNB stock opened at $33.24 on Wednesday. The firm has a fifty day simple moving average of $34.64 and a 200-day simple moving average of $38.03. The company has a market capitalization of $282.87 million, a PE ratio of 9.66 and a beta of 0.64. ACNB has a twelve month low of $27.00 and a twelve month high of $48.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. ACNB had a net margin of 24.98% and a return on equity of 11.18%. The company had revenue of $31.64 million during the quarter, compared to analysts’ expectations of $26.28 million. Equities research analysts anticipate that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.28 annualized dividend and a yield of 3.85%. This is a boost from ACNB’s previous quarterly dividend of $0.30. ACNB’s dividend payout ratio is presently 34.68%.

Institutional Investors Weigh In On ACNB

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in ACNB by 2.0% during the third quarter. FMR LLC now owns 490,483 shares of the bank’s stock worth $15,504,000 after purchasing an additional 9,497 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of ACNB during the fourth quarter worth $31,000. Allspring Global Investments Holdings LLC lifted its position in shares of ACNB by 2,578.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock worth $86,000 after buying an additional 2,630 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of ACNB in the 3rd quarter valued at about $120,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of ACNB during the 4th quarter valued at about $583,000. 32.35% of the stock is currently owned by institutional investors.

ACNB Company Profile

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.