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

Key Points

• ACNB was upgraded to "Buy" by Wall Street Zen (from "Hold"); analysts are split (2 Buy, 2 Hold) with a MarketBeat consensus of "Moderate Buy" and a $52.00 price target.
• The bank reported an EPS beat of $1.35 vs. $1.26 and revenue of $40.74M for the quarter; the stock has a market cap of ~$496.8M, a PE of 13.56, and a 1‑year range of $35.70–$53.89.
• Senior executives sold shares in January/February (notable reductions in their holdings); insiders own 3.53% of the stock while institutional investors hold about 32.35%.

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

A number of other analysts have also issued reports on ACNB. Zacks Research lowered ACNB from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Weiss Ratings restated a "buy (b-)" rating on shares of ACNB in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, ACNB has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

ACNB Stock Performance

Shares of ACNB stock opened at $48.00 on Friday. ACNB has a 1-year low of $35.70 and a 1-year high of $53.89. The firm has a market cap of $496.80 million, a PE ratio of 13.56 and a beta of 0.86. The company has a 50-day moving average of $49.45 and a two-hundred day moving average of $48.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB - Get Free Report) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.09. The business had revenue of $40.74 million for the quarter, compared to the consensus estimate of $39.69 million. ACNB had a net margin of 19.32% and a return on equity of 12.58%. On average, analysts predict that ACNB will post 3.22 EPS for the current year.

Insider Activity

In other news, SVP Kevin J. Hayes sold 750 shares of the business's 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 completion of the transaction, the senior vice president directly owned 2,632 shares of the company's stock, valued at approximately $135,021.60. The trade was a 22.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brett D. Fulk sold 1,486 shares of the firm's stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $48.52, for a total transaction of $72,100.72. Following the completion of the sale, the executive vice president directly owned 1,048 shares in the company, valued at approximately $50,848.96. This trade represents a 58.64% decrease in their position. The SEC filing for this sale provides additional information. 3.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACNB

A number of large investors have recently modified their holdings of ACNB. Russell Investments Group Ltd. acquired a new stake in shares of ACNB in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets grew its stake in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank's stock worth $44,000 after purchasing an additional 374 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in ACNB in the third quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in 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 buying an additional 856 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ACNB in the second quarter valued at $80,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

About ACNB

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.