ACNB (NASDAQ:ACNB) Stock Rating Lowered by Wall Street Zen

ACNB (NASDAQ:ACNB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also recently weighed in on ACNB. Piper Sandler raised their price target on shares of ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Zacks Research upgraded shares of ACNB from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $48.67.

ACNB Stock Performance

ACNB opened at $52.76 on Friday. The company has a market capitalization of $548.18 million, a price-to-earnings ratio of 14.90 and a beta of 0.87. The business’s 50-day moving average price is $49.89 and its two-hundred day moving average price is $46.61. ACNB has a 1 year low of $35.70 and a 1 year high of $53.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95.

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

Insider Activity

In other ACNB news, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the transaction, the senior vice president owned 2,632 shares of the company’s stock, valued at $135,021.60. The trade was a 22.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.00, for a total value of $255,000.00. Following the completion of the sale, the director directly owned 5,927 shares of the company’s stock, valued at approximately $302,277. The trade was a 45.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,009 shares of company stock valued at $510,520 in the last quarter. Company insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On ACNB

Several large investors have recently modified their holdings of ACNB. Los Angeles Capital Management LLC bought a new stake in shares of ACNB in the second quarter valued at approximately $292,000. Financial Consulate Inc. acquired a new position in ACNB in the 3rd quarter valued at $589,000. Geode Capital Management LLC lifted its position in shares of ACNB by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 243,474 shares of the bank’s stock valued at $10,432,000 after acquiring an additional 25,142 shares during the period. Equitable Trust Co. bought a new stake in shares of ACNB during the 2nd quarter valued at $355,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of ACNB during the 3rd quarter worth $46,000. 32.35% of the stock is owned by 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.