ACNB (NASDAQ:ACNB) Upgraded at StockNews.com

StockNews.com upgraded shares of ACNB (NASDAQ:ACNB) from a sell rating to a hold rating in a research note issued to investors on Monday.

Separately, Piper Sandler cut their target price on ACNB from $40.00 to $37.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st.

ACNB Stock Performance

Shares of ACNB opened at $37.38 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $32.74 and a two-hundred day moving average price of $36.22. The firm has a market capitalization of $319.23 million, a P/E ratio of 10.80 and a beta of 0.62. ACNB has a 52 week low of $30.24 and a 52 week high of $48.55.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $31.64 million during the quarter, compared to analyst estimates of $26.28 million. ACNB had a return on equity of 11.00% and a net margin of 24.98%. Equities analysts forecast 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 was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.32 dividend. This is an increase from ACNB’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, May 31st. This represents a $1.28 annualized dividend and a yield of 3.42%. ACNB’s dividend payout ratio is presently 36.99%.

Hedge Funds Weigh In On ACNB

Several institutional investors have recently bought and sold shares of ACNB. Allworth Financial LP purchased a new stake in shares of ACNB during the fourth quarter worth $31,000. BNP Paribas Financial Markets lifted its position in shares of ACNB by 83.3% during the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after acquiring an additional 1,859 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of ACNB by 21.0% during the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock worth $205,000 after acquiring an additional 795 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of ACNB during the fourth quarter worth $264,000. Finally, RKL Wealth Management LLC purchased a new stake in shares of ACNB during the fourth quarter worth $434,000. Hedge funds and other 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.