ACNB (NASDAQ:ACNB) Cut to Sell at StockNews.com

StockNews.com downgraded shares of ACNB (NASDAQ:ACNB) from a hold rating to a sell rating in a report issued on Monday.

Several other equities research analysts have also issued reports on the company. UBS Group set a $47.00 price objective on ACNB in a research note on Friday, March 21st. Raymond James initiated coverage on shares of ACNB in a research note on Friday, March 21st. They set an “outperform” rating and a $47.00 price target for the company. Finally, Piper Sandler raised shares of ACNB from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $50.00 in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACNB currently has an average rating of “Moderate Buy” and an average target price of $48.40.

ACNB Stock Down 1.2 %

Shares of ACNB opened at $41.91 on Monday. The business’s 50 day simple moving average is $40.75 and its 200-day simple moving average is $42.06. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $441.86 million, a price-to-earnings ratio of 11.24 and a beta of 0.69.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. ACNB had a net margin of 24.09% and a return on equity of 10.91%. The business had revenue of $34.27 million during the quarter, compared to analyst estimates of $32.65 million. As a group, equities analysts expect that ACNB will post 3.22 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 13th. Investors of record on Friday, May 30th will be issued a $0.34 dividend. This is an increase from ACNB’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, May 30th. ACNB’s payout ratio is presently 46.90%.

Institutional Trading of ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in ACNB by 286.7% in the third quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after acquiring an additional 8,012 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ACNB by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock worth $8,361,000 after purchasing an additional 2,026 shares in the last quarter. Franklin Resources Inc. purchased a new position in ACNB during the 3rd quarter worth $221,000. JPMorgan Chase & Co. raised its stake in ACNB by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 11,148 shares of the bank’s stock valued at $487,000 after buying an additional 5,447 shares during the last quarter. Finally, Ellsworth Advisors LLC boosted its holdings in ACNB by 11.6% in the fourth quarter. Ellsworth Advisors LLC now owns 13,979 shares of the bank’s stock worth $557,000 after acquiring an additional 1,448 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

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.