ACNB (NASDAQ:ACNB) Rating Lowered to "Sell" at StockNews.com

StockNews.com lowered shares of ACNB (NASDAQ:ACNB - Free Report) from a hold rating to a sell rating in a research note released on Monday.

A number of other brokerages also recently commented on ACNB. Raymond James started coverage on ACNB in a research note on Friday, March 21st. They issued an "outperform" rating and a $47.00 target price on the stock. UBS Group set a $47.00 price target on ACNB in a research report on Friday, March 21st. Finally, Piper Sandler raised ACNB from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.40.

ACNB Stock Up 0.7 %

Shares of ACNB stock traded up $0.29 on Monday, reaching $42.20. 21,235 shares of the company's stock traded hands, compared to its average volume of 23,176. ACNB has a 12-month low of $30.24 and a 12-month high of $50.72. 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 company has a market capitalization of $444.91 million, a P/E ratio of 11.31 and a beta of 0.69. The business's 50 day moving average price is $40.78 and its two-hundred day moving average price is $42.06.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. ACNB had a return on equity of 10.91% and a net margin of 24.09%. The firm had revenue of $34.27 million for the quarter, compared to the consensus estimate of $32.65 million. On average, equities analysts forecast that ACNB will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.34 dividend. This is an increase from ACNB's previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.22%. ACNB's dividend payout ratio (DPR) is presently 46.90%.

Institutional Trading of ACNB

Several hedge funds and other institutional investors have recently bought and sold shares of ACNB. Stonebridge Financial Group LLC bought a new stake in shares of ACNB in the fourth quarter valued at about $42,000. Tower Research Capital LLC TRC lifted its position in shares of 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 acquiring an additional 1,222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of ACNB during the 4th quarter worth approximately $92,000. SG Americas Securities LLC increased its position in shares of ACNB by 35.3% during the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock valued at $158,000 after purchasing an additional 1,035 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in ACNB in the first quarter worth $203,000. 32.35% of the stock is currently 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.