ACNB (NASDAQ:ACNB) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of ACNB (NASDAQ:ACNB) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Piper Sandler currently has $50.00 target price on the bank’s stock, up from their previous target price of $37.00.

ACNB has been the topic of several other reports. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Janney Montgomery Scott began coverage on shares of ACNB in a report on Tuesday, November 19th. They set a “buy” rating and a $53.00 target price on the stock.

ACNB Stock Performance

Shares of ACNB stock opened at $43.26 on Monday. The firm’s 50 day moving average is $40.11 and its 200 day moving average is $42.36. The stock has a market capitalization of $369.83 million, a P/E ratio of 11.60 and a beta of 0.65. ACNB has a 12 month low of $30.24 and a 12 month high of $50.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.77 earnings per share (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, sell-side analysts anticipate that ACNB will post 3.22 earnings per share for the current year.

ACNB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.96%. ACNB’s dividend payout ratio (DPR) is presently 34.32%.

Institutional Investors Weigh In On ACNB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of ACNB during the 4th quarter valued at $42,000. Tower Research Capital LLC TRC raised its position in ACNB by 431.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,505 shares of the bank’s stock valued at $60,000 after purchasing an additional 1,222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in ACNB during the fourth quarter worth about $92,000. SG Americas Securities LLC boosted its holdings in shares of ACNB by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of ACNB by 29.7% during 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. 32.35% of the stock is owned by hedge funds and other institutional investors.

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.