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

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

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

ACNB Price Performance

Shares of ACNB stock opened at $52.55 on Friday. The company has a market cap of $545.73 million, a PE ratio of 14.84 and a beta of 0.87. The firm has a fifty day moving average price of $50.24 and a two-hundred day moving average price of $46.97. ACNB has a fifty-two week low of $35.70 and a fifty-two week 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 earnings results 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 firm had revenue of $40.74 million for the quarter, compared to analyst estimates of $39.69 million. Analysts expect that ACNB will post 3.22 EPS for the current year.

Insider Activity at ACNB

In related news, SVP Kevin J. Hayes sold 750 shares of the company’s stock in a transaction dated 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 owned 2,632 shares of the company’s stock, valued at approximately $135,021.60. This represents a 22.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the business’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 owned 5,927 shares of the company’s stock, valued at $302,277. This trade represents a 45.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,009 shares of company stock worth $510,520 over the last quarter. Insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On ACNB

Several hedge funds and other institutional investors have recently made changes to their positions in ACNB. Private Capital Management LLC raised its holdings in ACNB by 9.9% during the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after purchasing an additional 31,113 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ACNB by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 320,055 shares of the bank’s stock valued at $15,475,000 after buying an additional 8,777 shares during the last quarter. Geode Capital Management LLC boosted its position in ACNB by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 243,474 shares of the bank’s stock worth $10,432,000 after acquiring an additional 25,142 shares during the period. The Manufacturers Life Insurance Company grew its position in ACNB by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock worth $6,363,000 after buying an additional 1,224 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in ACNB by 3.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 100,511 shares of the bank’s stock worth $4,306,000 after acquiring an additional 3,455 shares during the period. Hedge funds and other institutional investors own 32.35% of the company’s stock.

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.