JPMorgan Chase & Co. Acquires 5,447 Shares of ACNB Co. (NASDAQ:ACNB)

JPMorgan Chase & Co. increased its holdings in shares of ACNB Co. (NASDAQ:ACNB) by 95.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,148 shares of the bank’s stock after purchasing an additional 5,447 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of ACNB worth $487,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ACNB. SG Americas Securities LLC bought a new stake in ACNB during the 3rd quarter worth about $128,000. Haverford Trust Co acquired a new position in shares of ACNB during the 3rd quarter worth approximately $200,000. Franklin Resources Inc. bought a new stake in ACNB in the 3rd quarter valued at $221,000. Martingale Asset Management L P bought a new position in ACNB during the third quarter worth $223,000. Finally, SPC Financial Inc. bought a new position in shares of ACNB in the third quarter valued at about $271,000. 32.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACNB. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Janney Montgomery Scott started coverage on ACNB in a research report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 target price on the stock.

ACNB Price Performance

Shares of NASDAQ ACNB opened at $40.21 on Wednesday. ACNB Co. has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. The business has a fifty day moving average price of $42.37 and a two-hundred day moving average price of $42.04. 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 market capitalization of $343.80 million, a PE ratio of 11.69 and a beta of 0.66.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a net margin of 23.43% and a return on equity of 10.18%. As a group, equities analysts predict that ACNB Co. will post 3.56 earnings per share for the current fiscal year.

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.