ACNB (NASDAQ:ACNB) Now Covered by Analysts at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of ACNB (NASDAQ:ACNB) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $53.00 price objective on the bank’s stock.

ACNB has been the subject of a number of other reports. Hovde Group raised shares of 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 upgraded ACNB from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

ACNB Trading Up 1.7 %

Shares of ACNB stock opened at $47.13 on Tuesday. The stock has a 50 day moving average of $43.57 and a 200 day moving average of $38.68. 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 firm has a market capitalization of $402.96 million, a price-to-earnings ratio of 13.70 and a beta of 0.61. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $50.72.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data 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 during 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%. As a group, research analysts predict that ACNB will post 3.3 earnings per share for the current year.

ACNB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, November 29th. ACNB’s dividend payout ratio is currently 37.21%.

Hedge Funds Weigh In On ACNB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACNB. Assenagon Asset Management S.A. purchased a new stake in ACNB in the 3rd quarter worth approximately $834,000. Vanguard Group Inc. increased its stake in ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after purchasing an additional 5,724 shares during the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 2,437 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in ACNB during the third quarter worth about $547,000. Finally, BNP Paribas Financial Markets grew its holdings in ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after buying an additional 1,859 shares during the period. Institutional investors and hedge funds 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.