ACNB (NASDAQ:ACNB) Lowered to Sell Rating by StockNews.com

by · The Markets Daily

ACNB (NASDAQ:ACNB – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, Hovde Group raised ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Wednesday, July 31st.

Check Out Our Latest Stock Analysis on ACNB

ACNB Price Performance

NASDAQ ACNB traded down $3.81 during trading hours on Thursday, reaching $46.91. The company’s stock had a trading volume of 34,121 shares, compared to its average volume of 16,283. The firm has a market capitalization of $401.03 million, a price-to-earnings ratio of 13.64 and a beta of 0.61. ACNB has a 1-year low of $30.24 and a 1-year high of $50.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day moving average is $42.37 and its two-hundred day moving average is $37.76.

ACNB (NASDAQ:ACNB – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). ACNB had a return on equity of 10.40% and a net margin of 23.43%. The business had revenue of $34.07 million during the quarter, compared to analyst estimates of $27.51 million. On average, equities analysts predict that ACNB will post 3.3 EPS for the current year.

Institutional Investors Weigh In On ACNB

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of ACNB in the third quarter valued at approximately $128,000. BNP Paribas Financial Markets grew its position in shares of 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 in the last quarter. Haverford Trust Co purchased a new stake in shares of ACNB in the third quarter valued at approximately $200,000. SPC Financial Inc. purchased a new stake in shares of ACNB in the third quarter valued at approximately $271,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of ACNB in the third quarter valued at approximately $300,000. 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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