ACNB (NASDAQ:ACNB) Rating Lowered to “Sell” at StockNews.com

ACNB (NASDAQ:ACNB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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

ACNB Trading Down 7.5 %

ACNB stock traded down $3.81 during mid-day trading on Thursday, hitting $46.91. The company’s stock had a trading volume of 34,121 shares, compared to its average volume of 16,283. The firm has a market capitalization of $401.03 million, a PE ratio of 13.64 and a beta of 0.61. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $42.37 and its two-hundred day moving average is $37.76.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.04). The business had revenue of $34.07 million during the quarter, compared to analysts’ expectations of $27.51 million. ACNB had a return on equity of 10.40% and a net margin of 23.43%. On average, analysts anticipate that ACNB will post 3.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of ACNB in the third quarter valued at $834,000. Ellsworth Advisors LLC acquired a new stake in shares of ACNB in the third quarter valued at $547,000. Thrivent Financial for Lutherans acquired a new stake in shares of ACNB in the third quarter valued at $300,000. SPC Financial Inc. acquired a new stake in shares of ACNB in the third quarter valued at $271,000. Finally, Vanguard Group Inc. raised its stake in shares of ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after acquiring an additional 5,724 shares in the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.