ACNB (NASDAQ:ACNB) Upgraded to Hold at StockNews.com

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

Separately, Hovde Group upgraded shares of 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 Performance

Shares of NASDAQ:ACNB traded down $0.05 during trading hours on Friday, hitting $47.45. The stock had a trading volume of 11,118 shares, compared to its average volume of 16,485. The stock’s fifty day simple moving average is $43.31 and its 200 day simple moving average is $38.41. The firm has a market capitalization of $405.70 million, a price-to-earnings ratio of 13.79 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. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72.

ACNB (NASDAQ:ACNB) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. Sell-side analysts anticipate that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 29th. ACNB’s dividend payout ratio is presently 37.21%.

Institutional Investors Weigh In On ACNB

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of ACNB by 3.9% in the 3rd quarter. FMR LLC now owns 570,731 shares of the bank’s stock worth $24,924,000 after purchasing an additional 21,358 shares during the last quarter. Vanguard Group Inc. grew its position in ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock worth $16,008,000 after buying an additional 5,724 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ACNB by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock valued at $9,186,000 after buying an additional 5,119 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ACNB by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after acquiring an additional 2,026 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of ACNB by 3.5% during the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock worth $6,202,000 after acquiring an additional 4,851 shares in the last quarter. 32.35% of the stock is 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.