ACNB (NASDAQ:ACNB) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of ACNB Co. (NASDAQ:ACNB) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $41.54 and traded as low as $35.89. ACNB shares last traded at $36.69, with a volume of 20,203 shares trading hands.

Wall Street Analysts Forecast Growth

ACNB has been the subject of several research analyst reports. Janney Montgomery Scott began coverage on ACNB in a research report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 price objective for the company. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

ACNB Stock Down 3.7 %

The firm’s 50-day moving average is $44.35 and its two-hundred day moving average is $41.54. 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 $313.66 million, a P/E ratio of 10.67 and a beta of 0.66.

ACNB (NASDAQ:ACNB) last released its 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 the consensus estimate of $27.51 million. ACNB had a return on equity of 10.18% and a net margin of 23.43%. On average, equities research analysts anticipate that ACNB Co. will post 3.56 earnings per share for the current year.

ACNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.32 per share. The ex-dividend date was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 3.49%. ACNB’s payout ratio is presently 37.21%.

Institutional Investors Weigh In On ACNB

Institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in ACNB by 3.9% in the third quarter. FMR LLC now owns 570,731 shares of the bank’s stock valued at $24,924,000 after acquiring an additional 21,358 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of ACNB in the 3rd quarter worth $834,000. The Manufacturers Life Insurance Company boosted its position in shares of ACNB by 13.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock worth $5,074,000 after purchasing an additional 13,840 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of ACNB during the third quarter worth $547,000. Finally, Barclays PLC increased its holdings in ACNB by 286.7% in the third 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. 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.