ACNB (NASDAQ:ACNB) Research Coverage Started at Raymond James

Raymond James began coverage on shares of ACNB (NASDAQ:ACNB) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $47.00 price objective on the bank’s stock.

Separately, Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.00 to $50.00 in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.75.

ACNB Price Performance

Shares of ACNB stock opened at $42.01 on Friday. ACNB has a 52-week low of $30.24 and a 52-week high of $50.72. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $359.14 million, a P/E ratio of 11.26 and a beta of 0.65. The stock has a 50 day moving average price of $40.63 and a 200 day moving average price of $42.39.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings results 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, sell-side analysts predict that ACNB will post 3.22 earnings per share for the current year.

ACNB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, February 28th. This represents a $1.28 annualized dividend and a yield of 3.05%. ACNB’s payout ratio is currently 34.32%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of ACNB by 286.7% in the 3rd quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after acquiring an additional 8,012 shares during the period. State Street Corp increased its holdings in shares of ACNB by 3.5% in the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock valued at $6,202,000 after acquiring an additional 4,851 shares during the period. Franklin Resources Inc. purchased a new position in shares of ACNB in the 3rd quarter valued at $221,000. The Manufacturers Life Insurance Company increased its holdings in shares of ACNB by 13.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock valued at $5,074,000 after acquiring an additional 13,840 shares during the period. Finally, FMR LLC increased its holdings in shares of ACNB by 3.9% in the 3rd quarter. FMR LLC now owns 570,731 shares of the bank’s stock valued at $24,924,000 after acquiring an additional 21,358 shares during the period. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.