ACNB (NASDAQ:ACNB) Earns Outperform Rating from Analysts at Raymond James

Investment analysts at Raymond James assumed coverage on shares of ACNB (NASDAQ:ACNB - Get Free Report) in a report issued on Friday, MarketBeat reports. The brokerage set an "outperform" rating and a $47.00 price target on the bank's stock. Raymond James' price objective would indicate a potential upside of 12.01% from the stock's previous close.

Separately, Piper Sandler raised shares of ACNB from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.75.

ACNB Stock Performance

Shares of NASDAQ:ACNB traded down $0.05 during midday trading on Friday, reaching $41.96. 13,022 shares of the company's stock traded hands, compared to its average volume of 37,306. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. ACNB has a one year low of $30.24 and a one year high of $50.72. The company has a market cap of $442.38 million, a price-to-earnings ratio of 11.25 and a beta of 0.65. The stock has a 50 day moving average of $40.63 and a 200 day moving average of $42.39.

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ACNB (NASDAQ:ACNB - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.06). ACNB had a net margin of 24.09% and a return on equity of 10.91%. As a group, equities research analysts anticipate that ACNB will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On ACNB

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in ACNB by 2.2% during the fourth quarter. Rhumbline Advisers now owns 12,405 shares of the bank's stock valued at $494,000 after purchasing an additional 268 shares in the last quarter. Deutsche Bank AG raised its stake in shares of ACNB by 7.9% in the fourth quarter. Deutsche Bank AG now owns 7,800 shares of the bank's stock worth $311,000 after buying an additional 570 shares during the period. Northern Trust Corp lifted its position in shares of ACNB by 0.9% during the 4th quarter. Northern Trust Corp now owns 68,638 shares of the bank's stock valued at $2,734,000 after buying an additional 618 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ACNB by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 24,524 shares of the bank's stock valued at $977,000 after acquiring an additional 785 shares during the period. Finally, SG Americas Securities LLC increased its holdings in ACNB by 35.3% in the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank's stock worth $158,000 after acquiring an additional 1,035 shares in the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.