ACNB (NASDAQ:ACNB) Upgraded to Hold at StockNews.com

ACNB (NASDAQ:ACNB - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Monday.

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

ACNB Stock Down 0.4%

NASDAQ ACNB traded down $0.17 on Monday, hitting $44.00. 20,395 shares of the stock traded hands, compared to its average volume of 23,492. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $41.17 and a 200 day moving average of $42.07. ACNB has a twelve month low of $30.24 and a twelve month high of $50.72. The company has a market capitalization of $463.89 million, a P/E ratio of 11.80 and a beta of 0.83.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.03 earnings per share 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 business had revenue of $34.27 million during the quarter, compared to the consensus estimate of $32.65 million. As a group, analysts expect that ACNB will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACNB

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ACNB by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank's stock valued at $203,000 after purchasing an additional 234 shares during the last quarter. Rhumbline Advisers increased its stake in shares of ACNB by 2.2% in the fourth quarter. Rhumbline Advisers now owns 12,405 shares of the bank's stock valued at $494,000 after purchasing an additional 268 shares during the period. Deutsche Bank AG raised its holdings in shares of ACNB by 7.9% during the fourth quarter. Deutsche Bank AG now owns 7,800 shares of the bank's stock valued at $311,000 after buying an additional 570 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ACNB by 0.9% during the fourth quarter. Northern Trust Corp now owns 68,638 shares of the bank's stock valued at $2,734,000 after buying an additional 618 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of ACNB by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank's stock worth $977,000 after buying an additional 785 shares during the period. Institutional investors and hedge funds own 32.35% of the company's stock.

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.