ACNB (NASDAQ:ACNB) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of ACNB (NASDAQ:ACNB) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.67.

ACNB Price Performance

ACNB stock opened at $46.87 on Monday. The business’s fifty day moving average is $50.05 and its two-hundred day moving average is $47.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $486.98 million, a P/E ratio of 13.24 and a beta of 0.86. ACNB has a 52 week low of $35.70 and a 52 week high of $53.89.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $39.69 million. Equities research analysts forecast that ACNB will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, February 27th. ACNB’s dividend payout ratio (DPR) is currently 42.94%.

Insider Activity

In related news, SVP Kevin J. Hayes sold 750 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $51.30, for a total value of $38,475.00. Following the sale, the senior vice president directly owned 2,632 shares in the company, valued at $135,021.60. This trade represents a 22.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brett D. Fulk sold 2,773 shares of ACNB stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $52.27, for a total transaction of $144,944.71. Following the transaction, the executive vice president directly owned 3,306 shares in the company, valued at $172,804.62. The trade was a 45.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,009 shares of company stock worth $255,520 in the last three months. Insiders own 3.53% of the company’s stock.

Institutional Trading of ACNB

Large investors have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in ACNB by 10.6% during the 4th quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock worth $2,635,000 after buying an additional 5,218 shares during the period. truNorth Financial Services Inc. bought a new position in ACNB during the fourth quarter worth about $232,000. Private Capital Management LLC grew its stake in ACNB by 7.3% in the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after acquiring an additional 25,116 shares during the period. Occudo Quantitative Strategies LP acquired a new position in ACNB in the fourth quarter valued at about $232,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of ACNB by 5.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after acquiring an additional 5,218 shares in 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.