ACNB (NASDAQ:ACNB – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
Separately, Piper Sandler reduced their price objective on ACNB from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st.
Read Our Latest Stock Analysis on ACNB
ACNB Stock Down 3.5 %
ACNB (NASDAQ:ACNB – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $31.64 million during the quarter, compared to the consensus estimate of $26.28 million. ACNB had a net margin of 24.98% and a return on equity of 11.18%. Analysts anticipate that ACNB will post 3.3 EPS for the current fiscal year.
Hedge Funds Weigh In On ACNB
Hedge funds have recently modified their holdings of the business. Allworth Financial LP acquired a new position in ACNB in the fourth quarter valued at $31,000. Allspring Global Investments Holdings LLC boosted its position in shares of ACNB by 2,578.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,630 shares in the last quarter. SG Americas Securities LLC acquired a new stake in ACNB during the third quarter worth approximately $120,000. BNP Paribas Financial Markets increased its holdings in ACNB by 83.3% in the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock worth $154,000 after purchasing an additional 1,859 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in ACNB in the fourth quarter valued at approximately $264,000. Institutional investors and hedge funds own 32.35% 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.
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