ACNB (NASDAQ:ACNB) Given New $64.00 Price Target at Hovde Group

ACNB (NASDAQ:ACNB) had its target price boosted by Hovde Group from $57.00 to $64.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage currently has a market perform rating on the bank’s stock.

ACNB has been the subject of several other reports. Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Piper Sandler raised their price objective on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.50.

ACNB Stock Up 3.1%

Shares of ACNB stock opened at $64.00 on Monday. ACNB has a 1 year low of $40.80 and a 1 year high of $64.29. The firm has a market cap of $653.44 million, a price-to-earnings ratio of 12.14 and a beta of 0.87. The company has a 50-day moving average of $57.76 and a 200 day moving average of $52.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.38 by $0.11. The business had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.83%. As a group, sell-side analysts anticipate that ACNB will post 5.49 earnings per share for the current fiscal year.

Institutional Trading of ACNB

Institutional investors and hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new position in ACNB in the first quarter worth about $548,000. Bank of America Corp DE grew its holdings in shares of ACNB by 10.0% during the first quarter. Bank of America Corp DE now owns 33,187 shares of the bank’s stock valued at $1,589,000 after buying an additional 3,021 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of ACNB by 9.6% during the first quarter. Empowered Funds LLC now owns 59,757 shares of the bank’s stock valued at $2,861,000 after buying an additional 5,252 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after acquiring an additional 17,337 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of ACNB by 23.7% during the first quarter. Quantinno Capital Management LP now owns 13,012 shares of the bank’s stock valued at $623,000 after acquiring an additional 2,490 shares in the last quarter. 32.35% of the stock is currently owned by 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.