ACNB (NASDAQ:ACNB) Price Target Lowered to $37.00 at Piper Sandler

ACNB (NASDAQ:ACNB) had its price objective lowered by Piper Sandler from $40.00 to $37.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Separately, StockNews.com raised shares of ACNB from a sell rating to a hold rating in a research note on Tuesday.

ACNB Trading Up 1.8 %

ACNB stock opened at $33.13 on Wednesday. The company’s 50-day simple moving average is $34.75 and its 200-day simple moving average is $38.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. ACNB has a 52-week low of $27.00 and a 52-week high of $48.55. The firm has a market cap of $281.94 million, a P/E ratio of 9.58 and a beta of 0.60.

ACNB (NASDAQ:ACNB) last issued 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 firm had revenue of $31.64 million for the quarter, compared to analyst estimates of $26.28 million. ACNB had a net margin of 24.98% and a return on equity of 11.18%. As a group, equities analysts forecast that ACNB will post 3.4 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.86%. This is a positive change from ACNB’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, May 31st. ACNB’s dividend payout ratio (DPR) is 34.68%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP purchased a new position in ACNB in the 4th quarter worth approximately $31,000. Allspring Global Investments Holdings LLC lifted its stake in ACNB by 2,578.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock worth $86,000 after purchasing an additional 2,630 shares in the last quarter. SG Americas Securities LLC purchased a new position in ACNB in the 3rd quarter worth approximately $120,000. BNP Paribas Financial Markets increased its holdings in shares of ACNB by 83.3% during the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after buying an additional 1,859 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of ACNB during the 4th quarter worth approximately $264,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

About ACNB

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.