ACNB (NASDAQ:ACNB) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of ACNB (NASDAQ:ACNB) from a neutral rating to an overweight rating in a research report released on Monday morning, Marketbeat.com reports. The firm currently has $50.00 price objective on the bank’s stock, up from their previous price objective of $37.00.

ACNB has been the topic of a number of other research reports. Janney Montgomery Scott began coverage on shares of ACNB in a report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 price objective on the stock. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

ACNB Price Performance

Shares of ACNB opened at $41.16 on Monday. The stock has a market cap of $351.88 million, a PE ratio of 11.03 and a beta of 0.65. 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 has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. The firm’s 50-day simple moving average is $40.13 and its two-hundred day simple moving average is $42.37.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.77 earnings per share 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%. Analysts anticipate that ACNB will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 3.11%. ACNB’s dividend payout ratio is presently 34.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in ACNB by 2.2% during the fourth quarter. Rhumbline Advisers now owns 12,405 shares of the bank’s stock valued at $494,000 after purchasing an additional 268 shares during the period. RKL Wealth Management LLC lifted its position in ACNB by 3.3% during the third quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank’s stock valued at $441,000 after purchasing an additional 326 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 period. Northern Trust Corp lifted its position in ACNB by 0.9% during the fourth quarter. Northern Trust Corp now owns 68,638 shares of the bank’s stock valued at $2,734,000 after purchasing an additional 618 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in ACNB by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank’s stock valued at $977,000 after purchasing an additional 785 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.