ACNB (NASDAQ:ACNB) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of ACNB (NASDAQ:ACNB) from a sell rating to a hold rating in a research note published on Friday morning.

Separately, Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, July 31st.

ACNB Stock Down 2.3 %

Shares of ACNB opened at $46.35 on Friday. The firm has a market capitalization of $396.25 million, a price-to-earnings ratio of 13.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The business’s fifty day moving average price is $43.44 and its two-hundred day moving average price is $38.58. ACNB has a 52 week low of $30.24 and a 52 week high of $50.72.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). ACNB had a net margin of 23.43% and a return on equity of 10.18%. The firm had revenue of $34.07 million during the quarter, compared to the consensus estimate of $27.51 million. On average, analysts predict that ACNB will post 3.3 earnings per share for the current year.

ACNB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, November 29th. ACNB’s payout ratio is presently 37.21%.

Institutional Trading of ACNB

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of ACNB in the 3rd quarter valued at about $128,000. BNP Paribas Financial Markets raised its stake in shares of ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares during the period. Haverford Trust Co acquired a new stake in shares of ACNB in the 3rd quarter valued at about $200,000. Martingale Asset Management L P acquired a new stake in shares of ACNB in the 3rd quarter valued at about $223,000. Finally, SPC Financial Inc. acquired a new stake in shares of ACNB in the 3rd quarter valued at about $271,000. Institutional investors and hedge funds own 32.35% of the company’s stock.

About ACNB

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.