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

StockNews.com cut shares of ACNB (NASDAQ:ACNB - Free Report) from a hold rating to a sell rating in a report issued on Monday morning.

ACNB has been the subject of a number of other reports. Raymond James began coverage on ACNB in a research report on Friday, March 21st. They issued an "outperform" rating and a $47.00 target price for the company. UBS Group set a $47.00 target price on ACNB in a report on Friday, March 21st. Finally, Piper Sandler upgraded shares of ACNB from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ACNB presently has an average rating of "Moderate Buy" and a consensus price target of $48.40.

ACNB Trading Up 1.8 %

NASDAQ:ACNB traded up $0.77 on Monday, reaching $42.97. 23,261 shares of the stock traded hands, compared to its average volume of 23,219. The company's 50 day moving average is $40.82 and its 200-day moving average is $42.06. 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 1-year low of $30.24 and a 1-year high of $50.72. The firm has a market capitalization of $453.03 million, a price-to-earnings ratio of 11.52 and a beta of 0.69.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. The firm had revenue of $34.27 million during the quarter, compared to analyst estimates of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. Equities research analysts anticipate that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from ACNB's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.16%. ACNB's dividend payout ratio (DPR) is 46.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACNB. Cambridge Investment Research Advisors Inc. purchased a new position in ACNB in the first quarter worth $203,000. GAMMA Investing LLC grew its position in ACNB by 13,556.3% during the first quarter. GAMMA Investing LLC now owns 20,621 shares of the bank's stock valued at $849,000 after buying an additional 20,470 shares during the period. Millennium Management LLC increased its holdings in ACNB by 34.9% during the fourth quarter. Millennium Management LLC now owns 7,627 shares of the bank's stock worth $304,000 after buying an additional 1,972 shares during the last quarter. Deutsche Bank AG raised its position in ACNB by 7.9% in the fourth quarter. Deutsche Bank AG now owns 7,800 shares of the bank's stock worth $311,000 after acquiring an additional 570 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in ACNB by 2.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 101,187 shares of the bank's stock valued at $4,030,000 after acquiring an additional 2,379 shares during the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.