ACNB (NASDAQ:ACNB) Upgraded to “Hold” by StockNews.com

ACNB (NASDAQ:ACNB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

ACNB Price Performance

NASDAQ:ACNB traded up $0.29 during trading hours on Tuesday, reaching $32.54. 12,711 shares of the company were exchanged, compared to its average volume of 16,470. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The stock’s 50-day moving average is $34.83 and its 200-day moving average is $38.10. The firm has a market cap of $276.92 million, a PE ratio of 9.40 and a beta of 0.60. ACNB has a twelve month low of $27.00 and a twelve month high of $48.55.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. ACNB had a net margin of 24.98% and a return on equity of 11.18%. The company had revenue of $31.64 million during the quarter, compared to analysts’ expectations of $26.28 million. On average, sell-side analysts anticipate that ACNB will post 3.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACNB

A number of hedge funds have recently modified their holdings of ACNB. Allworth Financial LP purchased a new stake in shares of ACNB in the fourth quarter valued at about $31,000. Allspring Global Investments Holdings LLC boosted its stake in ACNB by 2,578.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock worth $86,000 after buying an additional 2,630 shares during the period. SG Americas Securities LLC purchased a new position in ACNB during the third quarter worth about $120,000. Savant Capital LLC purchased a new position in ACNB during the fourth quarter worth about $264,000. Finally, RKL Wealth Management LLC purchased a new position in ACNB during the fourth quarter worth about $434,000. Hedge funds and other institutional investors own 32.35% of the company’s stock.

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.