ACNB (NASDAQ:ACNB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ACNB (NASDAQ:ACNB) from a hold rating to a buy rating in a research report report published on Sunday.

A number of other analysts have also weighed in on ACNB. Piper Sandler increased their target price on ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $48.67.

ACNB Trading Up 1.2%

Shares of NASDAQ:ACNB opened at $53.18 on Friday. ACNB has a 12-month low of $35.70 and a 12-month high of $53.89. The company has a market cap of $552.54 million, a PE ratio of 15.02 and a beta of 0.87. The stock has a 50 day moving average of $50.35 and a 200 day moving average of $47.16. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. ACNB had a return on equity of 12.77% and a net margin of 19.32%.The business had revenue of $40.74 million for the quarter, compared to analysts’ expectations of $39.69 million. As a group, equities research analysts expect that ACNB will post 3.22 EPS for the current year.

ACNB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 27th. ACNB’s dividend payout ratio is presently 42.94%.

Insider Transactions at ACNB

In other news, EVP Brett D. Fulk sold 1,486 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $48.52, for a total transaction of $72,100.72. Following the sale, the executive vice president directly owned 1,048 shares in the company, valued at $50,848.96. This trade represents a 58.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $51.30, for a total value of $38,475.00. Following the completion of the sale, the senior vice president owned 2,632 shares of the company’s stock, valued at $135,021.60. This trade represents a 22.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,009 shares of company stock worth $510,520 over the last quarter. 3.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACNB. Allworth Financial LP boosted its holdings in shares of ACNB by 42.9% during the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock worth $43,000 after purchasing an additional 300 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of ACNB by 56.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of ACNB during the third quarter worth $45,000. Tripletail Wealth Management LLC purchased a new position in ACNB during the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after purchasing an additional 856 shares in the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.