ACNB (NASDAQ:ACNB) Earns Buy Rating from Analysts at Janney Montgomery Scott

Analysts at Janney Montgomery Scott assumed coverage on shares of ACNB (NASDAQ:ACNB) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $53.00 price target on the bank’s stock. Janney Montgomery Scott’s price objective suggests a potential upside of 14.35% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of ACNB from a “sell” rating to a “hold” rating in a research note on Friday. Hovde Group raised ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, July 31st.

ACNB Stock Performance

NASDAQ:ACNB opened at $46.35 on Tuesday. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72. The firm has a market capitalization of $396.25 million, a price-to-earnings ratio of 13.47 and a beta of 0.61. The company’s 50-day moving average is $43.44 and its two-hundred day moving average is $38.58. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94.

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

Institutional Trading of ACNB

Large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of ACNB by 3.9% in the third quarter. FMR LLC now owns 570,731 shares of the bank’s stock valued at $24,924,000 after buying an additional 21,358 shares during the last quarter. Vanguard Group Inc. increased its position in ACNB by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after acquiring an additional 5,724 shares during the period. Dimensional Fund Advisors LP increased its position in ACNB by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock valued at $9,186,000 after acquiring an additional 5,119 shares during the period. Geode Capital Management LLC raised its stake in ACNB by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after acquiring an additional 2,026 shares during the last quarter. Finally, State Street Corp lifted its position in ACNB by 3.5% during the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock worth $6,202,000 after acquiring an additional 4,851 shares during the period. Institutional investors and hedge funds 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.