ACNB (NASDAQ:ACNB) Coverage Initiated by Analysts at Raymond James

Raymond James began coverage on shares of ACNB (NASDAQ:ACNB) in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $47.00 target price on the bank’s stock.

Separately, Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, ACNB currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

ACNB Stock Performance

Shares of ACNB opened at $42.01 on Friday. The stock has a 50-day moving average of $40.63 and a two-hundred day moving average of $42.39. ACNB has a one year low of $30.24 and a one year high of $50.72. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $359.14 million, a P/E ratio of 11.26 and a beta of 0.65.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, research analysts predict that ACNB will post 3.22 EPS for the current year.

ACNB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 3.05%. ACNB’s dividend payout ratio is presently 34.32%.

Hedge Funds Weigh In On ACNB

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its stake in ACNB by 2.2% during the 4th quarter. Rhumbline Advisers now owns 12,405 shares of the bank’s stock worth $494,000 after buying an additional 268 shares in the last quarter. Deutsche Bank AG increased its stake in ACNB by 7.9% during the 4th quarter. Deutsche Bank AG now owns 7,800 shares of the bank’s stock worth $311,000 after buying an additional 570 shares in the last quarter. Northern Trust Corp increased its stake in ACNB by 0.9% during the 4th quarter. Northern Trust Corp now owns 68,638 shares of the bank’s stock worth $2,734,000 after buying an additional 618 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ACNB by 3.3% during the 4th 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 in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of ACNB by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock valued at $158,000 after purchasing an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

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.