ACNB (NASDAQ:ACNB) Raised to Hold at upgraded shares of ACNB (NASDAQ:ACNBFree Report) from a sell rating to a hold rating in a research note issued to investors on Monday.

Separately, Piper Sandler cut their target price on ACNB from $40.00 to $37.00 and set a neutral rating for the company in a research note on Wednesday, May 1st.

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ACNB Price Performance

ACNB stock opened at $34.58 on Monday. The business has a fifty day moving average of $32.67 and a two-hundred day moving average of $36.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.91. The stock has a market cap of $295.31 million, a price-to-earnings ratio of 9.99 and a beta of 0.62. ACNB has a 52-week low of $30.24 and a 52-week high of $48.55.

ACNB (NASDAQ:ACNBGet Free Report) last posted its earnings results on Thursday, April 25th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $31.64 million during the quarter, compared to analysts’ expectations of $26.28 million. ACNB had a return on equity of 11.00% and a net margin of 24.98%. As a group, research analysts anticipate that ACNB will post 3.3 earnings per share for the current year.

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.32 per share. This is a positive change from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, May 31st. ACNB’s dividend payout ratio (DPR) is currently 36.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of ACNB during the fourth quarter worth $31,000. SG Americas Securities LLC boosted its holdings in ACNB by 21.0% in the fourth quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock valued at $205,000 after purchasing an additional 795 shares during the period. BNP Paribas Financial Markets boosted its holdings in ACNB by 83.3% in the first quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares during the period. Empowered Funds LLC boosted its holdings in ACNB by 8.2% in the first quarter. Empowered Funds LLC now owns 41,756 shares of the bank’s stock valued at $1,570,000 after purchasing an additional 3,150 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock valued at $16,008,000 after purchasing an additional 5,724 shares during the period. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

About ACNB

(Get Free Report)

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.

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