ACNB (NASDAQ:ACNB) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of ACNB (NASDAQ:ACNB) from a buy rating to a hold rating in a report released on Saturday morning.

Several other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, ACNB presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

ACNB Stock Up 2.7%

NASDAQ ACNB opened at $47.25 on Friday. ACNB has a 12 month low of $35.70 and a 12 month high of $53.89. The company has a market capitalization of $489.23 million, a P/E ratio of 13.35 and a beta of 0.86. The company’s 50 day simple moving average is $49.77 and its 200 day simple moving average is $47.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $40.74 million during the quarter, compared to analysts’ expectations of $39.69 million. ACNB had a net margin of 19.32% and a return on equity of 12.58%. Equities research analysts expect that ACNB will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, February 27th. ACNB’s dividend payout ratio is 42.94%.

Insider Buying and Selling

In other ACNB news, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $51.30, for a total transaction of $38,475.00. Following the sale, the senior vice president directly owned 2,632 shares of the company’s stock, valued at $135,021.60. The trade was a 22.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brett D. Fulk sold 1,486 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $48.52, for a total value of $72,100.72. Following the completion of the sale, the executive vice president owned 1,048 shares of the company’s stock, valued at $50,848.96. The trade was a 58.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.53% of the company’s stock.

Institutional Trading of ACNB

Hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC increased its stake in ACNB by 10.6% in the 4th quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock valued at $2,635,000 after buying an additional 5,218 shares during the period. truNorth Financial Services Inc. acquired a new stake in shares of ACNB during the 4th quarter valued at $232,000. Private Capital Management LLC grew its holdings in shares of ACNB by 7.3% during the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after acquiring an additional 25,116 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of ACNB during the 4th quarter valued at $232,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of ACNB by 5.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after acquiring an additional 5,218 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.