ACNB (NASDAQ:ACNB) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

ACNB Co. (NASDAQ:ACNB) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $41.54 and traded as low as $35.89. ACNB shares last traded at $36.69, with a volume of 20,203 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACNB. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Janney Montgomery Scott started coverage on shares of ACNB in a report on Tuesday, November 19th. They set a “buy” rating and a $53.00 price objective for the company.

ACNB Stock Performance

The stock has a market cap of $313.66 million, a P/E ratio of 10.67 and a beta of 0.66. The firm has a 50 day moving average of $44.35 and a two-hundred day moving average of $41.54. 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 (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.04). ACNB had a net margin of 23.43% and a return on equity of 10.18%. The business had revenue of $34.07 million during the quarter, compared to the consensus estimate of $27.51 million. On average, research analysts predict that ACNB Co. will post 3.56 EPS for the current fiscal year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, November 29th. ACNB’s payout ratio is presently 37.21%.

Institutional Investors Weigh In On ACNB

Several institutional investors and hedge funds have recently bought and sold shares of ACNB. JPMorgan Chase & Co. boosted its position in shares of ACNB by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,148 shares of the bank’s stock valued at $487,000 after acquiring an additional 5,447 shares in the last quarter. Franklin Resources Inc. bought a new position in ACNB during the third quarter worth about $221,000. Barclays PLC boosted its holdings in ACNB by 286.7% during the third quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after purchasing an additional 8,012 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ACNB by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock worth $8,361,000 after buying an additional 2,026 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of ACNB by 3.5% in the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock worth $6,202,000 after buying an additional 4,851 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

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.