ACNB Corporation (NASDAQ:ACNB) Stock Rated “Hold” by Sell-Side Brokerages

by · The Markets Daily

ACNB Corporation (NASDAQ:ACNB – Get Free Report) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $64.50.

Several brokerages have recently commented on ACNB. Piper Sandler raised their target price on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a research note on Tuesday, July 21st. Finally, Hovde Group increased their price target on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th.

Check Out Our Latest Research Report on ACNB

ACNB Stock Performance

ACNB stock opened at $63.78 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The company’s 50-day simple moving average is $64.34 and its 200 day simple moving average is $57.81. ACNB has a 52 week low of $42.52 and a 52 week high of $67.60. The company has a market capitalization of $648.64 million, a PE ratio of 12.10 and a beta of 0.87.

ACNB (NASDAQ:ACNB – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The business had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. As a group, sell-side analysts anticipate that ACNB will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 1st. ACNB’s dividend payout ratio is presently 31.88%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in ACNB during the second quarter worth about $41,871,000. Dimensional Fund Advisors LP raised its holdings in shares of ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after buying an additional 14,789 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of ACNB by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after buying an additional 17,337 shares in the last quarter. Maltese Capital Management LLC lifted its position in shares of ACNB by 30.5% during the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after buying an additional 15,464 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in ACNB in the second quarter valued at about $3,819,000. Institutional investors own 32.35% of the company’s stock.

ACNB Company Profile

(Get Free Report)

ACNB Corporation is a financial holding company headquartered in Gettysburg, Pennsylvania. Through its principal subsidiary, ACNB Bank, the company provides a range of banking and financial services to individuals, families, farmers and businesses.

ACNB Bank offers deposit accounts, residential and commercial real estate loans, business lending, consumer loans, mortgage services, electronic banking and wealth management services. The bank serves customers through community banking offices and digital channels in south-central Pennsylvania and parts of Maryland.

ACNB Corporation also provides insurance services through its insurance subsidiary, offering products such as property and casualty, personal, commercial, employee benefits and life insurance.

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