ACNB’s (ACNB) “Market Perform” Rating Reiterated at Hovde Group

ACNB (NASDAQ:ACNB)‘s stock had its “market perform” rating reissued by analysts at Hovde Group in a research report issued on Wednesday, MarketBeat reports. They currently have a $57.00 price objective on the bank’s stock, up from their previous price objective of $56.00. Hovde Group’s target price points to a potential upside of 3.52% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Piper Sandler reiterated an “overweight” rating and set a $58.00 target price (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Wall Street Zen downgraded shares of ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings upgraded shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.50.

ACNB Stock Performance

NASDAQ:ACNB opened at $55.06 on Wednesday. The company has a market capitalization of $562.27 million, a P/E ratio of 11.26 and a beta of 0.87. The business has a fifty day simple moving average of $50.47 and a two-hundred day simple moving average of $49.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. ACNB has a 1 year low of $40.15 and a 1 year high of $55.55.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The firm had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. On average, analysts expect that ACNB will post 5.49 earnings per share for the current year.

Institutional Trading of ACNB

A number of hedge funds and other institutional investors have recently bought and sold shares of ACNB. Private Capital Management LLC lifted its stake in ACNB by 7.3% in the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock worth $17,925,000 after purchasing an additional 25,116 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after purchasing an additional 14,789 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of ACNB by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after purchasing an additional 17,337 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of ACNB by 5.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after purchasing an additional 5,218 shares during the period. Finally, Maltese Capital Management LLC increased its holdings in shares of ACNB by 30.5% in the fourth quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after purchasing an additional 15,464 shares during the period. Institutional investors own 32.35% of the company’s stock.

About ACNB

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.