Zacks Research Downgrades ACNB (NASDAQ:ACNB) to Hold

Key Points

• Zacks Research downgraded ACNB from a "strong‑buy" to a "hold", though analyst coverage is mixed (two Buys, two Holds) leaving an average rating of "Moderate Buy" and an average target price of $48.67.
• ACNB beat quarterly expectations, reporting EPS of $1.35 vs. $1.26 and revenue of $40.74M vs. $39.69M, and the stock trades near $47.45 with a P/E of 13.4 and a market cap of about $493M.
• Insiders have sold 10,009 shares (~$510,520) in the past 90 days (insiders own 3.53%), while institutional investors hold roughly 32.35% after several funds boosted positions in Q4.

ACNB (NASDAQ:ACNB - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of ACNB from a "hold" rating to a "buy" rating in a research report on Sunday. Weiss Ratings reiterated a "buy (b-)" rating on shares of ACNB in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, ACNB currently has an average rating of "Moderate Buy" and an average target price of $48.67.

ACNB Stock Up 0.6%

ACNB opened at $47.45 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $50.08 and its 200-day moving average price is $47.82. The company has a market cap of $493.01 million, a P/E ratio of 13.40 and a beta of 0.86. ACNB has a 12 month low of $35.70 and a 12 month high of $53.89.

ACNB (NASDAQ:ACNB - Get Free Report) last issued its earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $39.69 million. On average, equities analysts expect that ACNB will post 3.22 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brett D. Fulk sold 1,486 shares of the company's stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $48.52, for a total value of $72,100.72. Following the sale, the executive vice president owned 1,048 shares in the company, valued at $50,848.96. This represents a 58.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of ACNB stock in a transaction on 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. The trade was a 45.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,009 shares of company stock worth $510,520 in the last 90 days. Insiders own 3.53% of the company's stock.

Hedge Funds Weigh In On ACNB

Large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in ACNB by 10.6% during the 4th quarter. Empowered Funds LLC now owns 54,505 shares of the bank's stock valued at $2,635,000 after purchasing an additional 5,218 shares during the last quarter. truNorth Financial Services Inc. purchased a new stake in shares of ACNB during the fourth quarter valued at approximately $232,000. Private Capital Management LLC increased its position in shares of ACNB by 7.3% during the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank's stock valued at $17,925,000 after acquiring an additional 25,116 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of ACNB during the fourth quarter valued at approximately $232,000. Finally, Bridgeway Capital Management LLC raised its holdings in ACNB by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank's stock worth $5,121,000 after acquiring an additional 5,218 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company's stock.

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.

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