ACNB (NASDAQ:ACNB) Rating Increased to Buy 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 Saturday morning.

Several other equities analysts have also weighed in on ACNB. Piper Sandler increased their price target on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded shares of ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Raymond James Financial lowered shares of ACNB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings raised shares of ACNB from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $49.75.

ACNB Stock Performance

ACNB stock opened at $47.32 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm has a market cap of $491.42 million, a PE ratio of 14.47 and a beta of 0.95. The business has a 50 day moving average of $44.89 and a 200-day moving average of $43.75. ACNB has a 12-month low of $35.70 and a 12-month high of $49.25.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.22. The business had revenue of $40.54 million for the quarter, compared to analyst estimates of $39.83 million. ACNB had a return on equity of 11.95% and a net margin of 18.47%. As a group, sell-side analysts expect that ACNB will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, December 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.34. ACNB’s dividend payout ratio is presently 46.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after buying an additional 234 shares in the last quarter. Allworth Financial LP increased its holdings in 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 acquiring an additional 300 shares during the period. First Trust Advisors LP increased its holdings in ACNB by 5.2% during the 2nd quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock worth $288,000 after acquiring an additional 334 shares during the period. BNP Paribas Financial Markets lifted its stake in 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 purchasing an additional 374 shares in the last quarter. Finally, Equitable Trust Co. boosted its holdings in ACNB by 9.1% in the 3rd quarter. Equitable Trust Co. now owns 9,030 shares of the bank’s stock valued at $398,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors 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.