ACNB (NASDAQ:ACNB) Rating Increased to Hold at StockNews.com

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

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

ACNB Stock Down 0.1 %

Shares of ACNB traded down $0.05 during trading hours on Friday, reaching $47.45. The company’s stock had a trading volume of 11,118 shares, compared to its average volume of 16,485. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. The firm has a market cap of $405.70 million, a price-to-earnings ratio of 13.79 and a beta of 0.61. The company has a 50 day moving average of $43.31 and a two-hundred day moving average of $38.41. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72.

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

ACNB Announces Dividend

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 $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 29th. ACNB’s payout ratio is presently 37.21%.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently bought and sold shares of ACNB. Renaissance Technologies LLC lifted its position in shares of ACNB by 1.7% in the second quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock worth $648,000 after buying an additional 300 shares during the last quarter. RKL Wealth Management LLC lifted its holdings in ACNB by 3.3% in the 3rd quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank’s stock worth $441,000 after purchasing an additional 326 shares during the last quarter. BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 1,859 shares during the period. Geode Capital Management LLC grew its holdings in ACNB by 1.1% during the third quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after purchasing an additional 2,026 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of ACNB by 5.4% in the third quarter. Empowered Funds LLC now owns 47,408 shares of the bank’s stock valued at $2,070,000 after purchasing an additional 2,412 shares during the period. 32.35% of the stock is owned by institutional investors and hedge funds.

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.