ACNB (NASDAQ:ACNB) Stock Rating Lowered by Zacks Research

ACNB (NASDAQ:ACNB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently weighed in on ACNB. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ACNB currently has an average rating of “Moderate Buy” and an average price target of $48.67.

ACNB Stock Up 0.6%

ACNB opened at $47.45 on Monday. The company has a market cap of $493.01 million, a PE ratio of 13.40 and a beta of 0.86. ACNB has a twelve month low of $35.70 and a twelve month high of $53.89. The company has a 50-day moving average price of $50.08 and a 200 day moving average price of $47.82. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.62.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. ACNB had a return on equity of 12.77% and a net margin of 19.32%.The company had revenue of $40.74 million for the quarter, compared to analysts’ expectations of $39.69 million. Sell-side analysts expect that ACNB will post 3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at ACNB

In other ACNB news, EVP Brett D. Fulk sold 1,486 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $48.52, for a total value of $72,100.72. Following the transaction, the executive vice president directly owned 1,048 shares of the company’s stock, valued at $50,848.96. This trade represents a 58.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total value of $38,475.00. Following the transaction, the senior vice president owned 2,632 shares in the company, valued at approximately $135,021.60. This represents a 22.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,009 shares of company stock worth $510,520. Insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On ACNB

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in ACNB by 10.6% during the fourth quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock worth $2,635,000 after buying an additional 5,218 shares during the last quarter. truNorth Financial Services Inc. acquired a new stake in shares of ACNB in the 4th quarter worth $232,000. Private Capital Management LLC raised its holdings in shares of ACNB by 7.3% during the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock worth $17,925,000 after acquiring an additional 25,116 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of ACNB during the 4th quarter worth $232,000. Finally, Bridgeway Capital Management LLC boosted its position in shares of ACNB by 5.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock valued at $5,121,000 after acquiring an additional 5,218 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.