ACNB (NASDAQ:ACNB) Upgraded to “Hold” at StockNews.com

ACNB (NASDAQ:ACNB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other equities analysts have also commented on ACNB. UBS Group set a $47.00 target price on ACNB in a report on Friday, March 21st. Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and upped their target price for the company from $37.00 to $50.00 in a report on Monday, March 3rd. Finally, Raymond James began coverage on ACNB in a report on Friday, March 21st. They set an “outperform” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, ACNB has an average rating of “Moderate Buy” and a consensus target price of $48.40.

ACNB Stock Up 1.3%

NASDAQ:ACNB opened at $43.99 on Monday. The firm has a market capitalization of $463.79 million, a PE ratio of 11.79 and a beta of 0.83. The stock has a 50 day moving average of $41.04 and a 200-day moving average of $42.04. ACNB has a 52 week low of $30.24 and a 52 week high of $50.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. The company had revenue of $34.27 million during the quarter, compared to analyst estimates of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. Analysts predict that ACNB will post 3.22 EPS for the current year.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new position in shares of ACNB during the fourth quarter worth approximately $42,000. Tower Research Capital LLC TRC boosted its position in shares of ACNB by 431.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank’s stock worth $60,000 after buying an additional 1,222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in ACNB in the fourth quarter worth approximately $92,000. SG Americas Securities LLC lifted its position in ACNB by 35.3% in the fourth quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after purchasing an additional 1,035 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in ACNB in the first quarter worth approximately $203,000. 32.35% of the stock is currently owned by institutional investors and hedge funds.

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.