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

ACNB Co. (NASDAQ:ACNB - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.07 and traded as low as $41.26. ACNB shares last traded at $41.27, with a volume of 16,302 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACNB. Raymond James assumed coverage on shares of ACNB in a research note on Friday, March 21st. They issued an "outperform" rating and a $47.00 target price for the company. UBS Group set a $47.00 price objective on shares of ACNB in a report on Friday, March 21st. Finally, Piper Sandler raised shares of ACNB from a "neutral" rating to an "overweight" rating and increased their target price 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.40.

ACNB Stock Up 1.2 %

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83. The firm's fifty day moving average is $40.68 and its 200 day moving average is $42.07. The stock has a market cap of $437.43 million, a P/E ratio of 11.12 and a beta of 0.69.

ACNB (NASDAQ:ACNB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. The business had revenue of $34.27 million during the quarter, compared to analysts' expectations of $32.65 million. ACNB had a return on equity of 10.91% and a net margin of 24.09%. As a group, equities research analysts forecast that ACNB Co. will post 3.22 EPS for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.34 dividend. This is an increase from ACNB's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.36 annualized dividend and a dividend yield of 3.28%. ACNB's dividend payout ratio (DPR) is presently 46.90%.

Hedge Funds Weigh In On ACNB

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

About ACNB

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.