ACNB (NASDAQ:ACNB) Shares Pass Below 200 Day Moving Average - Here's Why

ACNB Co. (NASDAQ:ACNB - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $42.38 and traded as low as $41.03. ACNB shares last traded at $41.40, with a volume of 22,415 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACNB. Raymond James started coverage on shares of ACNB in a research note on Friday. They set an "outperform" rating and a $47.00 price objective on the stock. Piper Sandler upgraded shares of ACNB from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $37.00 to $50.00 in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, ACNB presently has an average rating of "Moderate Buy" and a consensus target price of $48.75.

ACNB Stock Up 2.1 %

The company has a market capitalization of $360.08 million, a P/E ratio of 11.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.94 and a current ratio of 0.94. The firm's fifty day moving average is $40.53 and its 200-day moving average is $42.37.

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

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ACNB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.28 annualized dividend and a yield of 3.04%. ACNB's dividend payout ratio is presently 34.32%.

Institutional Trading of ACNB

Several hedge funds and other institutional investors have recently made changes to their positions in ACNB. Barclays PLC boosted its position in ACNB by 286.7% during the 3rd quarter. Barclays PLC now owns 10,807 shares of the bank's stock worth $472,000 after buying an additional 8,012 shares during the period. State Street Corp raised its stake in shares of ACNB by 3.5% during the third quarter. State Street Corp now owns 142,024 shares of the bank's stock valued at $6,202,000 after acquiring an additional 4,851 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of ACNB during the third quarter worth $221,000. The Manufacturers Life Insurance Company grew its stake in shares of ACNB by 13.5% in the third quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank's stock worth $5,074,000 after purchasing an additional 13,840 shares during the last quarter. Finally, FMR LLC increased its holdings in ACNB by 3.9% in the third quarter. FMR LLC now owns 570,731 shares of the bank's stock valued at $24,924,000 after purchasing an additional 21,358 shares during the period. 32.35% of the stock is currently owned by 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.