ACNB (NASDAQ:ACNB) Stock Crosses Above 50 Day Moving Average of $33.37

ACNB Co. (NASDAQ:ACNB)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $33.37 and traded as high as $33.48. ACNB shares last traded at $33.39, with a volume of 10,200 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACNB shares. Piper Sandler started coverage on ACNB in a report on Friday, May 19th. They set a “neutral” rating and a $31.00 target price for the company. Piper Jaffray Companies started coverage on ACNB in a report on Friday, May 19th. They issued a “neutral” rating and a $31.00 price objective for the company. Hovde Group started coverage on ACNB in a report on Wednesday, May 31st. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, StockNews.com initiated coverage on ACNB in a report on Thursday, August 17th. They issued a “hold” rating for the company.

ACNB Trading Up 4.9 %

The business has a 50 day simple moving average of $33.37 and a 200-day simple moving average of $32.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $285.82 million, a P/E ratio of 7.29 and a beta of 0.40.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. ACNB had a return on equity of 15.78% and a net margin of 33.15%. The company had revenue of $28.18 million during the quarter, compared to the consensus estimate of $28.02 million. On average, analysts predict that ACNB Co. will post 4.19 EPS for the current year.

ACNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.35%. ACNB’s dividend payout ratio (DPR) is presently 24.45%.

Institutional Investors Weigh In On ACNB

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in shares of ACNB in the fourth quarter valued at $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of ACNB by 78.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,974 shares of the bank’s stock valued at $60,000 after purchasing an additional 865 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of ACNB by 16,530.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,162 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,149 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of ACNB by 124,050.0% in the second quarter. Citigroup Inc. now owns 2,483 shares of the bank’s stock valued at $82,000 after purchasing an additional 2,481 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of ACNB by 533.0% in the fourth quarter. Barclays PLC now owns 2,222 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 30.03% of the company’s stock.

About ACNB

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.