ACNB (NASDAQ:ACNB) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of ACNB (NASDAQ:ACNB) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of ACNB from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.67.

ACNB Price Performance

NASDAQ:ACNB opened at $47.45 on Monday. ACNB has a one year low of $35.70 and a one year high of $53.89. The stock has a market cap of $493.01 million, a PE ratio of 13.40 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a 50 day moving average price of $50.08 and a 200 day moving average price of $47.82.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $40.74 million for the quarter, compared to analyst estimates of $39.69 million. ACNB had a return on equity of 12.77% and a net margin of 19.32%. Equities research analysts expect that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 27th. ACNB’s dividend payout ratio is 42.94%.

Insider Buying and Selling

In other ACNB news, EVP Brett D. Fulk sold 1,486 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $48.52, for a total transaction of $72,100.72. Following the completion of the transaction, the executive vice president owned 1,048 shares of the company’s stock, valued at $50,848.96. This trade represents a 58.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $51.00, for a total transaction of $255,000.00. Following the transaction, the director directly owned 5,927 shares of the company’s stock, valued at approximately $302,277. This trade represents a 45.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 10,009 shares of company stock valued at $510,520. 3.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACNB

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in shares of ACNB by 42.9% in the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock worth $43,000 after acquiring an additional 300 shares during the last quarter. BNP Paribas Financial Markets raised its position in ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares during the period. Russell Investments Group Ltd. acquired a new position in ACNB during the third quarter worth $45,000. Tripletail Wealth Management LLC acquired a new position in ACNB during the third quarter worth $46,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after buying an additional 856 shares during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.