ACNB (NASDAQ:ACNB) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of ACNB (NASDAQ:ACNB) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $53.00 price target on the bank’s stock.

Several other analysts have also recently weighed in on the stock. StockNews.com upgraded shares of ACNB from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Hovde Group raised shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, July 31st.

ACNB Stock Performance

Shares of NASDAQ:ACNB opened at $47.96 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $43.95 and a 200-day moving average price of $38.90. The company has a market cap of $410.01 million, a price-to-earnings ratio of 13.94 and a beta of 0.61. ACNB has a 12 month low of $30.24 and a 12 month high of $50.72.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). The business had revenue of $34.07 million for the quarter, compared to the consensus estimate of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. As a group, equities analysts anticipate that ACNB will post 3.3 EPS for the current year.

ACNB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 2.67%. ACNB’s dividend payout ratio is presently 37.21%.

Hedge Funds Weigh In On ACNB

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACNB. FMR LLC increased its stake in shares of ACNB by 3.9% in the 3rd quarter. FMR LLC now owns 570,731 shares of the bank’s stock worth $24,924,000 after acquiring an additional 21,358 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of ACNB during the third quarter valued at approximately $834,000. The Manufacturers Life Insurance Company lifted its holdings in shares of ACNB by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock valued at $5,074,000 after purchasing an additional 13,840 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of ACNB in the 3rd quarter worth approximately $547,000. Finally, Barclays PLC grew its stake in shares of ACNB by 286.7% in the 3rd quarter. Barclays PLC now owns 10,807 shares of the bank’s stock worth $472,000 after buying an additional 8,012 shares during the last quarter. Hedge funds and other 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.