ACNB (NASDAQ:ACNB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of ACNB (NASDAQ:ACNB) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $50.00 price target on the bank’s stock, up from their previous price target of $37.00.

A number of other analysts have also weighed in on the stock. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Janney Montgomery Scott initiated coverage on ACNB in a report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 price objective for the company.

ACNB Price Performance

ACNB opened at $43.26 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $40.11 and its 200 day simple moving average is $42.36. The firm has a market cap of $369.83 million, a price-to-earnings ratio of 11.60 and a beta of 0.65. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, analysts predict that ACNB will post 3.22 earnings per share for the current year.

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, February 28th. ACNB’s payout ratio is currently 34.32%.

Institutional Trading of ACNB

Several large investors have recently bought and sold shares of ACNB. FMR LLC lifted its stake in shares of ACNB by 3.9% in the 3rd quarter. FMR LLC now owns 570,731 shares of the bank’s stock valued at $24,924,000 after purchasing an additional 21,358 shares during the period. JPMorgan Chase & Co. lifted its position in ACNB by 145.4% during the fourth quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank’s stock valued at $1,090,000 after buying an additional 16,214 shares during the period. The Manufacturers Life Insurance Company lifted its position in ACNB by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock valued at $5,074,000 after buying an additional 13,840 shares during the period. Citadel Advisors LLC boosted its holdings in shares of ACNB by 117.7% during the 4th quarter. Citadel Advisors LLC now owns 23,536 shares of the bank’s stock valued at $937,000 after buying an additional 12,727 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of ACNB by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank’s stock worth $10,900,000 after buying an additional 10,796 shares during the period. 32.35% of the stock is owned by institutional investors.

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.