Raymond James Initiates Coverage on ACNB (NASDAQ:ACNB)

Equities research analysts at Raymond James assumed coverage on shares of ACNB (NASDAQ:ACNB) in a report released on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $47.00 price target on the bank’s stock. Raymond James’ price objective would indicate a potential upside of 11.88% from the stock’s current price.

Separately, Piper Sandler upgraded shares of ACNB from a “neutral” rating to an “overweight” rating and upped their price target for the company from $37.00 to $50.00 in a report on Monday, March 3rd. One 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

ACNB Stock Performance

Shares of ACNB opened at $42.01 on Friday. The company has a market cap of $359.14 million, a PE ratio of 11.26 and a beta of 0.65. ACNB has a one year low of $30.24 and a one year high of $50.72. 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 has a 50-day moving average of $40.63 and a 200-day moving average of $42.38.

ACNB (NASDAQ:ACNB) last announced its quarterly 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%. On average, equities research analysts predict that ACNB will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new position in ACNB during the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC lifted its position in shares of ACNB by 431.8% during the 4th 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ACNB during the 4th quarter worth approximately $92,000. SG Americas Securities LLC lifted its position in shares of ACNB by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after buying an additional 1,035 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in ACNB by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,004 shares of the bank’s stock valued at $199,000 after purchasing an additional 1,147 shares during the last quarter. Institutional investors and hedge funds 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.