ACNB (NASDAQ:ACNB) Now Covered by Analysts at Raymond James

Raymond James began coverage on shares of ACNB (NASDAQ:ACNB) in a research note issued to investors on Friday, Marketbeat reports. The firm issued an outperform rating and a $47.00 price target on the bank’s stock.

Separately, Piper Sandler upgraded ACNB from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $37.00 to $50.00 in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, ACNB has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

ACNB Price Performance

Shares of ACNB opened at $42.01 on Friday. The business’s 50-day moving average is $40.63 and its 200-day moving average is $42.37. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. The company has a market capitalization of $359.14 million, a price-to-earnings ratio of 11.26 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. Equities research analysts expect that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a yield of 3.05%. ACNB’s payout ratio is currently 34.32%.

Institutional Investors Weigh In On ACNB

A number of large investors have recently added to or reduced their stakes in ACNB. FMR LLC boosted its position in ACNB by 3.9% during the third quarter. FMR LLC now owns 570,731 shares of the bank’s stock worth $24,924,000 after purchasing an additional 21,358 shares during the period. JPMorgan Chase & Co. boosted its position in ACNB by 145.4% during the fourth quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank’s stock worth $1,090,000 after purchasing an additional 16,214 shares during the period. The Manufacturers Life Insurance Company boosted its position in ACNB by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock worth $5,074,000 after purchasing an additional 13,840 shares during the period. Citadel Advisors LLC boosted its position in ACNB by 117.7% during the fourth quarter. Citadel Advisors LLC now owns 23,536 shares of the bank’s stock worth $937,000 after purchasing an additional 12,727 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in ACNB by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,669 shares of the bank’s stock worth $10,900,000 after purchasing an additional 10,796 shares during the period. 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.