StockNews.com Downgrades ACNB (NASDAQ:ACNB) to Hold

ACNB (NASDAQ:ACNBGet Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

ACNB Stock Down 0.5 %

NASDAQ ACNB opened at $39.50 on Thursday. The firm has a market cap of $336.15 million, a PE ratio of 11.38 and a beta of 0.39. ACNB has a one year low of $28.00 and a one year high of $40.06. The stock’s 50 day simple moving average is $33.38 and its 200 day simple moving average is $33.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.79.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in ACNB in the first quarter valued at approximately $283,000. Lincoln National Corp raised its holdings in ACNB by 1.2% in the 1st quarter. Lincoln National Corp now owns 25,691 shares of the bank’s stock valued at $898,000 after acquiring an additional 304 shares in the last quarter. Brandes Investment Partners LP raised its holdings in ACNB by 57.4% in the 1st quarter. Brandes Investment Partners LP now owns 18,553 shares of the bank’s stock valued at $648,000 after acquiring an additional 6,768 shares in the last quarter. BHZ Capital Management LP acquired a new position in shares of ACNB during the 1st quarter worth $235,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of ACNB by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 28,411 shares of the bank’s stock worth $993,000 after buying an additional 891 shares in the last quarter. 29.92% of the stock is currently owned by institutional investors.

About ACNB

(Get Rating)

ACNB Corporation, a financial holding company, provides banking, insurance, and financial services to individual, business, and government customers in the United States. The company offers checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also provides 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.

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