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ACNB (NASDAQ:ACNB) Earns "Hold (C+)" Rating from Weiss Ratings

ACNB logo with Finance background

Key Points

  • ACNB's stock received a reiteration of a "Hold (C+)" rating from Weiss Ratings, while Raymond James Financial downgraded it from "outperform" to "market perform".
  • The average rating for ACNB stock is currently a "Moderate Buy" with a target price of $49.25.
  • During trading hours, ACNB's stock price increased by 0.4% to reach $43.71, with a market capitalization of approximately $457.65 million.
  • MarketBeat previews the top five stocks to own by November 1st.

ACNB (NASDAQ:ACNB - Get Free Report)'s stock had its "hold (c+)" rating reiterated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Raymond James Financial cut shares of ACNB from an "outperform" rating to a "market perform" rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, ACNB presently has an average rating of "Moderate Buy" and an average target price of $49.25.

View Our Latest Stock Analysis on ACNB

ACNB Trading Up 0.4%

NASDAQ:ACNB traded up $0.19 during trading hours on Wednesday, hitting $43.71. 5,432 shares of the company were exchanged, compared to its average volume of 28,761. The stock has a market capitalization of $457.65 million, a price-to-earnings ratio of 16.27 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. ACNB has a one year low of $35.70 and a one year high of $50.72. The company has a fifty day simple moving average of $44.31 and a 200 day simple moving average of $42.79.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $1.11 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.03). The firm had revenue of $39.69 million during the quarter, compared to analyst estimates of $38.85 million. ACNB had a net margin of 15.64% and a return on equity of 10.22%. Sell-side analysts expect that ACNB will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On ACNB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACNB. Vanguard Group Inc. grew its holdings in shares of ACNB by 10.4% during the first quarter. Vanguard Group Inc. now owns 490,884 shares of the bank's stock worth $20,205,000 after purchasing an additional 46,151 shares during the last quarter. Geode Capital Management LLC raised its position in ACNB by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 243,474 shares of the bank's stock worth $10,432,000 after buying an additional 25,142 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ACNB by 13,556.3% during the 1st quarter. GAMMA Investing LLC now owns 20,621 shares of the bank's stock worth $849,000 after purchasing an additional 20,470 shares during the period. Nuveen LLC acquired a new position in shares of ACNB during the 1st quarter worth $717,000. Finally, Bare Financial Services Inc acquired a new stake in ACNB in the 1st quarter valued at about $347,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Company Profile

(Get Free Report)

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.

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