ACNB (NASDAQ:ACNB) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ACNB from "hold" to "buy" and Weiss Ratings reiterated a "buy (b-)", leaving a consensus Buy rating with a target price of $48.67.
• ACNB beat quarterly estimates, reporting $1.35 EPS versus $1.26 expected and $40.74M in revenue, and the bank trades at a market cap of about $493.5M with a P/E of 13.42.
• Insiders sold 10,009 shares (~$510,520) in the past 90 days (insiders now own 3.53%), while institutional investors hold roughly 32.35% of the stock.

ACNB (NASDAQ:ACNB - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of ACNB in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $48.67.

ACNB Stock Performance

ACNB stock opened at $47.50 on Friday. The firm has a 50 day simple moving average of $50.14 and a 200-day simple moving average of $47.77. The stock has a market cap of $493.53 million, a price-to-earnings ratio of 13.42 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95. ACNB has a 1-year low of $35.70 and a 1-year high of $53.89.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. ACNB had a net margin of 19.32% and a return on equity of 12.77%. The firm had revenue of $40.74 million for the quarter, compared to analyst estimates of $39.69 million. On average, analysts expect that ACNB will post 3.22 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kevin J. Hayes sold 750 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the transaction, the senior vice president owned 2,632 shares of the company's stock, valued at approximately $135,021.60. This represents a 22.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the firm's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $51.00, for a total value of $255,000.00. Following the transaction, the director owned 5,927 shares of the company's stock, valued at $302,277. This trade represents a 45.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,009 shares of company stock valued at $510,520. Corporate insiders own 3.53% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its holdings in ACNB by 42.9% during the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank's stock worth $43,000 after buying an additional 300 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank's stock worth $44,000 after acquiring an additional 374 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the third quarter worth $45,000. Tripletail Wealth Management LLC purchased a new stake in shares of ACNB during the third quarter worth $46,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank's stock valued at $74,000 after acquiring an additional 856 shares in the last quarter. Institutional investors and hedge funds own 32.35% of the company's stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company's main business activities encompass a full range of retail and commercial banking products.

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