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 released 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 report on Wednesday, July 31st.

ACNB Stock Down 2.3 %

Shares of ACNB stock opened at $46.35 on Friday. The business’s fifty day moving average price is $43.44 and its two-hundred day moving average price is $38.58. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $396.25 million, a P/E ratio of 13.47 and a beta of 0.61. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72.

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

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.76%. ACNB’s dividend payout ratio is currently 37.21%.

Institutional Trading of ACNB

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings 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 worth $154,000 after buying an additional 1,859 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ACNB by 1.4% in the 1st 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ACNB by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock worth $1,107,000 after buying an additional 2,437 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ACNB by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock worth $9,186,000 after buying an additional 5,119 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of ACNB by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock worth $648,000 after buying an additional 300 shares in the last quarter. 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.