StockNews.com Upgrades ACNB (NASDAQ:ACNB) to Hold

ACNB (NASDAQ:ACNB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Hovde Group upgraded shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, July 31st.

ACNB Price Performance

Shares of ACNB stock opened at $47.45 on Friday. The company has a fifty day moving average of $43.31 and a 200-day moving average of $38.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. ACNB has a 52-week low of $30.24 and a 52-week high of $50.72. The stock has a market capitalization of $405.70 million, a price-to-earnings ratio of 13.79 and a beta of 0.61.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). The company had revenue of $34.07 million for the quarter, compared to analysts’ expectations of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. Equities research analysts expect that ACNB will post 3.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of ACNB during the third quarter valued at approximately $128,000. BNP Paribas Financial Markets lifted its stake in shares of ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after purchasing an additional 1,859 shares during the period. Haverford Trust Co purchased a new position in shares of ACNB during the 3rd quarter worth $200,000. Martingale Asset Management L P purchased a new position in shares of ACNB during the 3rd quarter worth $223,000. Finally, SPC Financial Inc. bought a new stake in shares of ACNB during the 3rd quarter valued at $271,000. Institutional investors 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.