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

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

A number of other analysts have also issued reports on ACNB. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, ACNB presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

ACNB Trading Down 0.0%

ACNB stock opened at $46.00 on Friday. The stock has a market cap of $476.10 million, a PE ratio of 12.99 and a beta of 0.86. The stock has a 50-day moving average price of $49.79 and a 200 day moving average price of $47.82. ACNB has a 52 week low of $35.70 and a 52 week high of $53.89. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61.

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

Insider Activity at ACNB

In related news, SVP Kevin J. Hayes sold 750 shares of ACNB 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 transaction, the senior vice president owned 2,632 shares in the company, valued at approximately $135,021.60. The trade was a 22.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brett D. Fulk sold 1,486 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $48.52, for a total transaction of $72,100.72. Following the sale, the executive vice president directly owned 1,048 shares of the company’s stock, valued at approximately $50,848.96. This trade represents a 58.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in shares of ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock worth $43,000 after buying an additional 300 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of ACNB by 56.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after buying an additional 374 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the 3rd quarter valued at about $45,000. Tripletail Wealth Management LLC acquired a new position in ACNB during the 3rd quarter worth approximately $46,000. Finally, Tower Research Capital LLC TRC lifted its position in ACNB by 98.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after acquiring an additional 856 shares in the last quarter. 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.