ACNB (NASDAQ:ACNB) Shares Pass Below 200 Day Moving Average – Here’s What Happened

ACNB Co. (NASDAQ:ACNB)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.38 and traded as low as $41.03. ACNB shares last traded at $41.40, with a volume of 22,415 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Janney Montgomery Scott began coverage on ACNB in a report on Tuesday, November 19th. They set a “buy” rating and a $53.00 price objective for the company. Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $50.00 in a report on Monday, March 3rd.

ACNB Stock Up 1.0 %

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 firm’s 50-day moving average is $40.39 and its two-hundred day moving average is $42.38. The stock has a market cap of $358.12 million, a P/E ratio of 11.23 and a beta of 0.65.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.06). ACNB had a net margin of 24.09% and a return on equity of 10.91%. On average, equities research analysts anticipate that ACNB Co. will post 3.22 earnings per share for the current year.

ACNB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, February 28th. ACNB’s dividend payout ratio (DPR) is 34.32%.

Hedge Funds Weigh In On ACNB

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in ACNB in the 4th quarter worth $42,000. Tower Research Capital LLC TRC boosted its stake in ACNB by 431.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank’s stock worth $60,000 after purchasing an additional 1,222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in ACNB in the 4th quarter worth $92,000. SG Americas Securities LLC boosted its stake in ACNB by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after purchasing an additional 1,035 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank’s stock worth $199,000 after purchasing an additional 1,147 shares during the period. Institutional investors and hedge funds 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.