ACNB (NASDAQ:ACNB) Share Price Passes Below 200-Day Moving Average – Should You Sell?

ACNB Co. (NASDAQ:ACNB) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.38 and traded as low as $41.03. ACNB shares last traded at $41.40, with a volume of 22,415 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ACNB shares. Janney Montgomery Scott began coverage on shares of ACNB in a research report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 price target for the company. Piper Sandler raised shares of ACNB from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $50.00 in a research note on Monday, March 3rd.

ACNB Price Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average is $40.33 and its two-hundred day moving average is $42.38. The company has a market capitalization of $353.93 million, a P/E ratio of 11.10 and a beta of 0.65.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, analysts predict that ACNB Co. will post 3.22 earnings per share for the current year.

ACNB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 3.09%. ACNB’s payout ratio is 34.32%.

Hedge Funds Weigh In On ACNB

Several large investors have recently modified their holdings of the business. Millennium Management LLC boosted its position in shares of ACNB by 34.9% in the fourth quarter. Millennium Management LLC now owns 7,627 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,972 shares during the period. Deutsche Bank AG lifted its position in ACNB by 7.9% during the fourth quarter. Deutsche Bank AG now owns 7,800 shares of the bank’s stock valued at $311,000 after purchasing an additional 570 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of ACNB by 2.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 101,187 shares of the bank’s stock worth $4,030,000 after acquiring an additional 2,379 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of ACNB by 117.7% in the 4th quarter. Citadel Advisors LLC now owns 23,536 shares of the bank’s stock worth $937,000 after acquiring an additional 12,727 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of ACNB by 29.8% in the 4th quarter. Bank of America Corp DE now owns 12,321 shares of the bank’s stock worth $491,000 after acquiring an additional 2,832 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Company Profile

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.