ACNB (NASDAQ:ACNB) Downgraded to “Hold” Rating by Wall Street Zen

ACNB (NASDAQ:ACNB) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other brokerages also recently issued reports on ACNB. Piper Sandler increased their price objective on ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Zacks Research raised shares of ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $48.67.

ACNB Stock Performance

NASDAQ ACNB opened at $52.76 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96. ACNB has a one year low of $35.70 and a one year high of $53.89. The company has a 50-day simple moving average of $49.89 and a 200-day simple moving average of $46.61. The firm has a market capitalization of $548.18 million, a PE ratio of 14.90 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last issued 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. On average, equities analysts forecast that ACNB will post 3.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $255,000.00. Following the completion of the sale, the director directly owned 5,927 shares of the company’s stock, valued at approximately $302,277. This represents a 45.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the transaction, the senior vice president directly owned 2,632 shares of the company’s stock, valued at approximately $135,021.60. This represents a 22.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 10,009 shares of company stock worth $510,520. 3.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Equitable Trust Co. raised its holdings in shares of ACNB by 2.5% in the 4th quarter. Equitable Trust Co. now owns 9,260 shares of the bank’s stock worth $448,000 after buying an additional 230 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock valued at $203,000 after acquiring an additional 234 shares during the period. Allworth Financial LP grew its position in ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after acquiring an additional 300 shares during the period. First Trust Advisors LP raised its stake in ACNB by 5.2% during the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock worth $288,000 after acquiring an additional 334 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after acquiring an additional 374 shares during the period. 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.