ACNB (NASDAQ:ACNB) Raised to Hold at upgraded shares of ACNB (NASDAQ:ACNBFree Report) from a sell rating to a hold rating in a research note released on Monday.

Separately, Piper Sandler dropped their target price on shares of ACNB from $40.00 to $37.00 and set a neutral rating on the stock in a report on Wednesday, May 1st.

Read Our Latest Research Report on ACNB

ACNB Stock Up 3.1 %

ACNB stock opened at $34.58 on Monday. The company has a market capitalization of $295.31 million, a P/E ratio of 9.99 and a beta of 0.62. The firm’s fifty day simple moving average is $32.67 and its 200-day simple moving average is $36.21. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.91. ACNB has a 1-year low of $30.24 and a 1-year high of $48.55.

ACNB (NASDAQ:ACNBGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $31.64 million for the quarter, compared to the consensus estimate of $26.28 million. ACNB had a net margin of 24.98% and a return on equity of 11.00%. Sell-side analysts forecast that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.70%. This is a positive change from ACNB’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, May 31st. ACNB’s dividend payout ratio (DPR) is currently 36.99%.

Institutional Trading of ACNB

Several hedge funds and other institutional investors have recently bought and sold shares of ACNB. SG Americas Securities LLC increased its stake in ACNB by 21.0% in the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock valued at $205,000 after acquiring an additional 795 shares during the period. Assenagon Asset Management S.A. bought a new stake in ACNB in the fourth quarter valued at about $583,000. Allworth Financial LP bought a new stake in ACNB in the fourth quarter valued at about $31,000. RKL Wealth Management LLC bought a new stake in ACNB in the fourth quarter valued at about $434,000. Finally, Savant Capital LLC bought a new stake in ACNB in the fourth quarter valued at about $264,000. 32.35% of the stock is currently owned by institutional investors and hedge funds.

About ACNB

(Get Free Report)

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.

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