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

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

A number of other analysts have also issued reports on ACNB. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ACNB has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

ACNB Stock Performance

Shares of ACNB stock opened at $48.00 on Friday. ACNB has a 1-year low of $35.70 and a 1-year high of $53.89. The firm has a market cap of $496.80 million, a PE ratio of 13.56 and a beta of 0.86. The company has a 50-day moving average of $49.45 and a two-hundred day moving average of $48.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $40.74 million for the quarter, compared to the consensus estimate of $39.69 million. ACNB had a net margin of 19.32% and a return on equity of 12.58%. On average, analysts predict that ACNB will post 3.22 EPS for the current year.

Insider Activity

In other news, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the completion of the transaction, the senior vice president directly owned 2,632 shares of the company’s stock, valued at approximately $135,021.60. The trade was a 22.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brett D. Fulk sold 1,486 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 1,048 shares in the company, valued at approximately $50,848.96. This trade represents a 58.64% decrease in their position. The SEC filing for this sale provides additional information. 3.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACNB

A number of large investors have recently modified their holdings of ACNB. Russell Investments Group Ltd. acquired a new stake in shares of ACNB in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets grew its stake 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 worth $44,000 after purchasing an additional 374 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in ACNB in the third quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after buying an additional 856 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ACNB in the second quarter valued at $80,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

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.