Wall Street Zen Upgrades ACNB (NASDAQ:ACNB) to Buy

ACNB (NASDAQ:ACNB) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued reports about the stock. Piper Sandler increased their price target on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial lowered ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Weiss Ratings raised ACNB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 10th. Finally, Zacks Research raised shares of ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ACNB presently has an average rating of “Buy” and a consensus target price of $49.75.

ACNB Trading Down 1.2%

Shares of ACNB stock opened at $47.32 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.94. The business has a fifty day simple moving average of $44.89 and a two-hundred day simple moving average of $43.76. ACNB has a 1 year low of $35.70 and a 1 year high of $49.25. The company has a market capitalization of $491.42 million, a price-to-earnings ratio of 14.47 and a beta of 0.95.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.22. The company had revenue of $40.54 million for the quarter, compared to analyst estimates of $39.83 million. ACNB had a net margin of 18.47% and a return on equity of 11.95%. Research analysts forecast that ACNB will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Equitable Holdings Inc. increased its holdings in ACNB by 15.1% in the 3rd quarter. Equitable Holdings Inc. now owns 6,214 shares of the bank’s stock worth $274,000 after purchasing an additional 814 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of ACNB by 49.2% in the third quarter. Two Sigma Investments LP now owns 14,533 shares of the bank’s stock valued at $640,000 after buying an additional 4,792 shares during the period. Squarepoint Ops LLC raised its holdings in ACNB by 56.2% in the 3rd quarter. Squarepoint Ops LLC now owns 11,656 shares of the bank’s stock valued at $513,000 after buying an additional 4,196 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in ACNB by 116.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,247 shares of the bank’s stock valued at $99,000 after buying an additional 1,211 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in ACNB during the 3rd quarter worth approximately $45,000. 32.35% of the stock is currently owned by institutional investors and hedge funds.

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.