ACNB (NASDAQ:ACNB) Rating Increased to Hold at StockNews.com

ACNB (NASDAQ:ACNB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

ACNB Stock Up 1.8 %

ACNB opened at $33.13 on Tuesday. The business has a 50 day moving average price of $34.75 and a two-hundred day moving average price of $38.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The company has a market cap of $281.94 million, a PE ratio of 9.58 and a beta of 0.60. ACNB has a 52 week low of $27.00 and a 52 week high of $48.55.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $31.64 million during the quarter, compared to the consensus estimate of $26.28 million. ACNB had a return on equity of 11.18% and a net margin of 24.98%. As a group, research analysts anticipate that ACNB will post 3.4 EPS for the current year.

Hedge Funds Weigh In On ACNB

A number of large investors have recently modified their holdings of ACNB. Allworth Financial LP purchased a new position in ACNB in the 4th quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC increased its stake in ACNB by 2,578.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,630 shares in the last quarter. SG Americas Securities LLC purchased a new position in ACNB in the 3rd quarter valued at approximately $120,000. BNP Paribas Financial Markets increased its stake in ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in ACNB in the 4th quarter valued at approximately $264,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

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.