ACNB (NASDAQ:ACNB) Upgraded at StockNews.com

StockNews.com upgraded shares of ACNB (NASDAQ:ACNB) from a sell rating to a hold rating in a research report sent to investors on Friday.

Separately, Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, July 31st.

ACNB Trading Down 0.1 %

Shares of ACNB stock opened at $47.45 on Friday. The company has a market capitalization of $405.70 million, a P/E ratio of 13.79 and a beta of 0.61. ACNB has a 12-month low of $30.24 and a 12-month high of $50.72. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $43.31 and a 200 day moving average price of $38.49.

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

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.70%. ACNB’s payout ratio is 37.21%.

Institutional Investors Weigh In On ACNB

A number of institutional investors and hedge funds have recently made changes to their positions in ACNB. Geode Capital Management LLC increased its position in ACNB by 1.1% in the third quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock worth $8,361,000 after purchasing an additional 2,026 shares during the period. Barclays PLC boosted its stake in shares of ACNB by 286.7% in the 3rd quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after purchasing an additional 8,012 shares during the last quarter. State Street Corp grew its position in shares of ACNB by 3.5% during the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock worth $6,202,000 after buying an additional 4,851 shares during the period. Martingale Asset Management L P bought a new stake in shares of ACNB during the third quarter worth approximately $223,000. Finally, BNP Paribas Financial Markets lifted its holdings in ACNB by 352.3% in the third quarter. BNP Paribas Financial Markets now owns 6,612 shares of the bank’s stock valued at $289,000 after buying an additional 5,150 shares during the period. Institutional investors 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.