ACNB (NASDAQ:ACNB) Stock Rating Lowered by StockNews.com

ACNB (NASDAQ:ACNB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler dropped their target price on shares of ACNB from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st.

ACNB Stock Performance

Shares of NASDAQ:ACNB opened at $32.98 on Wednesday. ACNB has a one year low of $27.50 and a one year high of $48.55. The firm has a market cap of $280.49 million, a PE ratio of 9.53 and a beta of 0.64. The firm’s 50 day simple moving average is $34.34 and its 200-day simple moving average is $38.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 0.87.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. ACNB had a return on equity of 11.18% and a net margin of 24.98%. The business had revenue of $31.64 million for the quarter, compared to analysts’ expectations of $26.28 million. As a group, equities analysts predict that ACNB will post 3.3 EPS for the current year.

Institutional Investors Weigh In On ACNB

Several hedge funds have recently bought and sold shares of ACNB. Allworth Financial LP acquired a new stake in ACNB in the 4th quarter worth about $31,000. Allspring Global Investments Holdings LLC grew its holdings in shares of ACNB by 2,578.4% in the third 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 during the period. SG Americas Securities LLC acquired a new stake in ACNB during the third quarter worth about $120,000. BNP Paribas Financial Markets increased its position in ACNB by 83.3% during the first 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 last quarter. Finally, Savant Capital LLC acquired a new position in ACNB in the fourth quarter valued at approximately $264,000. Hedge funds and other 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.