ACNB (NASDAQ:ACNB) Upgraded by Wall Street Zen to “Buy” Rating

ACNB (NASDAQ:ACNB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

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

ACNB Price Performance

Shares of NASDAQ ACNB opened at $52.55 on Friday. ACNB has a 1-year low of $35.70 and a 1-year high of $53.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $545.73 million, a PE ratio of 14.84 and a beta of 0.87. The business’s fifty day moving average price is $50.24 and its two-hundred day moving average price is $46.97.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. ACNB had a net margin of 19.32% and a return on equity of 12.77%. The firm had revenue of $40.74 million during the quarter, compared to analysts’ expectations of $39.69 million. On average, research analysts expect that ACNB will post 3.22 EPS for the current year.

Insider Buying and Selling at ACNB

In related news, SVP Kevin J. Hayes sold 750 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $51.30, for a total transaction of $38,475.00. Following the completion of the sale, the senior vice president directly owned 2,632 shares in the company, valued at $135,021.60. This represents a 22.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brett D. Fulk sold 1,486 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $48.52, for a total transaction of $72,100.72. Following the sale, the executive vice president owned 1,048 shares in the company, valued at approximately $50,848.96. This trade represents a 58.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 10,009 shares of company stock valued at $510,520. Company insiders own 3.53% of the company’s stock.

Institutional Trading of ACNB

Several hedge funds and other institutional investors have recently bought and sold shares of ACNB. Marshall Wace LLP purchased a new position in ACNB in the fourth quarter worth $432,000. Wells Fargo & Company MN grew its stake in ACNB by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,539 shares of the bank’s stock worth $558,000 after acquiring an additional 3,647 shares during the period. Dimensional Fund Advisors LP boosted its stake in ACNB by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 320,055 shares of the bank’s stock worth $15,475,000 after buying an additional 8,777 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in ACNB in the fourth quarter valued at approximately $1,053,000. Finally, Empowered Funds LLC boosted its holdings in ACNB by 10.6% in the fourth quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock valued at $2,635,000 after acquiring an additional 5,218 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

About ACNB

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.