ACNB (NASDAQ:ACNB) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of ACNB (NASDAQ:ACNB) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Separately, Piper Sandler decreased their price target on shares of ACNB from $40.00 to $37.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st.

ACNB Price Performance

ACNB stock opened at $38.80 on Thursday. ACNB has a one year low of $30.24 and a one year high of $48.55. The company’s fifty day moving average price is $34.14 and its 200-day moving average price is $35.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $331.31 million, a PE ratio of 11.21 and a beta of 0.62.

ACNB (NASDAQ:ACNB) last released its earnings results on Wednesday, July 24th. The bank reported $1.32 EPS for the quarter, topping the consensus estimate of $0.84 by $0.48. ACNB had a net margin of 24.98% and a return on equity of 11.00%. The firm had revenue of $33.30 million for the quarter, compared to the consensus estimate of $26.66 million. On average, equities analysts anticipate that ACNB will post 3.3 EPS for the current fiscal year.

ACNB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, August 30th. ACNB’s dividend payout ratio is currently 36.99%.

Institutional Investors Weigh In On ACNB

Several hedge funds and other institutional investors have recently made changes to their positions in ACNB. Haverford Trust Co purchased a new stake in shares of ACNB in the fourth quarter valued at $1,521,000. Assenagon Asset Management S.A. bought a new position in shares of ACNB in the fourth quarter worth about $583,000. RKL Wealth Management LLC bought a new position in shares of ACNB in the fourth quarter worth about $434,000. Savant Capital LLC bought a new position in shares of ACNB in the fourth quarter worth about $264,000. Finally, Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 5,724 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

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.