Janney Montgomery Scott Begins Coverage on ACNB (NASDAQ:ACNB)

Janney Montgomery Scott started coverage on shares of ACNB (NASDAQ:ACNB) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $53.00 price target on the bank’s stock. Janney Montgomery Scott’s price target suggests a potential upside of 12.36% from the stock’s current price.

ACNB has been the subject of several other reports. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Hovde Group upgraded ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, July 31st.

ACNB Trading Up 0.1 %

NASDAQ:ACNB opened at $47.17 on Tuesday. The stock’s 50 day moving average price is $43.71 and its 200 day moving average price is $38.74. ACNB has a 52 week low of $30.24 and a 52 week high of $50.72. The company has a market capitalization of $403.30 million, a P/E ratio of 13.71 and a beta of 0.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.04). ACNB had a net margin of 23.43% and a return on equity of 10.18%. The company had revenue of $34.07 million for the quarter, compared to analyst estimates of $27.51 million. On average, research analysts forecast that ACNB will post 3.3 EPS for the current fiscal year.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of ACNB by 83.3% during the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ACNB by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock worth $16,008,000 after acquiring an additional 5,724 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ACNB by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,534 shares of the bank’s stock worth $1,107,000 after acquiring an additional 2,437 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ACNB by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock worth $9,186,000 after acquiring an additional 5,119 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in ACNB by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 17,856 shares of the bank’s stock valued at $648,000 after purchasing an additional 300 shares during the period. Institutional investors own 32.35% of the company’s stock.

About ACNB

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.