ACNB (NASDAQ:ACNB) Research Coverage Started at Janney Montgomery Scott

Janney Montgomery Scott began coverage on shares of ACNB (NASDAQ:ACNB) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $53.00 target price on the bank’s stock.

A number of other research firms have also commented on ACNB. Hovde Group raised ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, July 31st. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

ACNB Price Performance

NASDAQ:ACNB opened at $47.62 on Tuesday. The firm has a market capitalization of $407.15 million, a price-to-earnings ratio of 13.84 and a beta of 0.61. ACNB has a 52-week low of $30.24 and a 52-week high of $50.72. The stock has a fifty day moving average of $43.83 and a 200 day moving average of $38.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94.

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

ACNB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 2.69%. ACNB’s dividend payout ratio is 37.21%.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in ACNB by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock worth $648,000 after purchasing an additional 300 shares during the period. RKL Wealth Management LLC increased its stake in ACNB by 3.3% in the 3rd quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank’s stock worth $441,000 after buying an additional 326 shares in the last quarter. BNP Paribas Financial Markets increased its stake in ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after buying an additional 1,859 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ACNB by 1.1% during the third quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of ACNB by 5.4% during the third quarter. Empowered Funds LLC now owns 47,408 shares of the bank’s stock valued at $2,070,000 after purchasing an additional 2,412 shares in the last quarter. 32.35% of the stock is owned by institutional investors.

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.