ACNB (NASDAQ:ACNB) Coverage Initiated by Analysts at Raymond James

Raymond James assumed coverage on shares of ACNB (NASDAQ:ACNB) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set an “outperform” rating and a $47.00 price target on the bank’s stock. Raymond James’ price target suggests a potential upside of 13.94% from the company’s previous close.

Separately, Piper Sandler raised shares of ACNB from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $50.00 in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

ACNB Stock Down 1.5 %

ACNB stock opened at $41.25 on Friday. The stock has a market capitalization of $352.65 million, a P/E ratio of 11.06 and a beta of 0.65. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. ACNB has a 12 month low of $30.24 and a 12 month high of $50.72. The firm has a 50-day moving average price of $40.53 and a 200-day moving average price of $42.37.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, equities research analysts anticipate that ACNB will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans acquired a new stake in ACNB during the 3rd quarter valued at approximately $300,000. The Manufacturers Life Insurance Company increased its position in ACNB by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock valued at $5,074,000 after purchasing an additional 13,840 shares during the period. FMR LLC increased its position in ACNB by 3.9% during the 3rd quarter. FMR LLC now owns 570,731 shares of the bank’s stock valued at $24,924,000 after purchasing an additional 21,358 shares during the period. BNP Paribas Financial Markets increased its position in ACNB by 352.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,612 shares of the bank’s stock valued at $289,000 after purchasing an additional 5,150 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in ACNB during the 3rd quarter valued at approximately $223,000. 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.