StockNews.com Upgrades ACNB (NASDAQ:ACNB) to Hold

ACNB (NASDAQ:ACNB) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Hovde Group raised shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, July 31st.

ACNB Price Performance

Shares of NASDAQ ACNB opened at $47.50 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72. The company has a market capitalization of $406.08 million, a price-to-earnings ratio of 13.81 and a beta of 0.61. The business has a 50-day moving average of $43.15 and a 200-day moving average of $38.30.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). The firm had revenue of $34.07 million for the quarter, compared to analyst estimates of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. On average, equities analysts anticipate that ACNB will post 3.3 EPS for the current fiscal year.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in shares of ACNB in the 3rd quarter worth approximately $834,000. Vanguard Group Inc. increased its position in ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock worth $16,008,000 after buying an additional 5,724 shares during the period. Bank of New York Mellon Corp lifted its stake in ACNB by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock valued at $1,107,000 after buying an additional 2,437 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of ACNB during the third quarter valued at $547,000. Finally, BNP Paribas Financial Markets grew its position in shares of ACNB by 83.3% during the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after acquiring an additional 1,859 shares during the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

ACNB Company Profile

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.