Wall Street Zen Upgrades ACNB (NASDAQ:ACNB) to Buy

ACNB (NASDAQ:ACNB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other analysts have also issued reports about the company. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.00.

ACNB Price Performance

ACNB stock opened at $48.00 on Friday. ACNB has a twelve month low of $35.70 and a twelve month high of $53.89. The firm has a 50 day moving average price of $49.45 and a 200-day moving average price of $48.05. The company has a market capitalization of $496.80 million, a P/E ratio of 13.56 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. ACNB had a net margin of 19.32% and a return on equity of 12.58%. The company had revenue of $40.74 million for the quarter, compared to analysts’ expectations of $39.69 million. As a group, equities analysts predict that ACNB will post 3.22 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Kevin J. Hayes sold 750 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total value of $38,475.00. Following the completion of the transaction, the senior vice president directly owned 2,632 shares of the company’s stock, valued at $135,021.60. This trade represents a 22.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett D. Fulk sold 1,486 shares of ACNB stock in a transaction on Monday, January 26th. The shares were sold at an average price of $48.52, for a total value 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 approximately $50,848.96. This trade represents a 58.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.53% of the company’s stock.

Institutional Trading of ACNB

A number of institutional investors have recently added to or reduced their stakes in ACNB. Equitable Trust Co. grew its holdings in ACNB by 2.5% during the 4th quarter. Equitable Trust Co. now owns 9,260 shares of the bank’s stock valued at $448,000 after buying an additional 230 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after buying an additional 234 shares in the last quarter. First Trust Advisors LP boosted its position in shares of ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after acquiring an additional 334 shares during the period. BNP Paribas Financial Markets grew its stake in ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after acquiring an additional 374 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in ACNB by 37.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock valued at $107,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

About ACNB

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.