ACNB (NASDAQ:ACNB) Coverage Initiated at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of ACNB (NASDAQ:ACNB) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $53.00 price target on the bank’s stock.

ACNB has been the topic of a number of other reports. StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Hovde Group upgraded shares of ACNB from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, July 31st.

ACNB Stock Up 0.7 %

NASDAQ:ACNB opened at $47.96 on Tuesday. The firm has a 50-day simple moving average of $43.95 and a two-hundred day simple moving average of $38.90. The firm has a market cap of $410.01 million, a P/E ratio of 13.94 and a beta of 0.61. ACNB has a fifty-two week low of $30.24 and a fifty-two week high of $50.72. 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 (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.04). The firm had revenue of $34.07 million for the quarter, compared to the consensus estimate of $27.51 million. ACNB had a net margin of 23.43% and a return on equity of 10.18%. Analysts predict that ACNB will post 3.3 earnings per share for the current fiscal year.

ACNB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 2.67%. ACNB’s dividend payout ratio is presently 37.21%.

Hedge Funds Weigh In On ACNB

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of ACNB by 3.9% in the third quarter. FMR LLC now owns 570,731 shares of the bank’s stock worth $24,924,000 after buying an additional 21,358 shares during the last quarter. Vanguard Group Inc. raised its position in ACNB by 1.4% in the first quarter. Vanguard Group Inc. now owns 425,755 shares of the bank’s stock worth $16,008,000 after acquiring an additional 5,724 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ACNB by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 253,306 shares of the bank’s stock worth $9,186,000 after acquiring an additional 5,119 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ACNB by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 191,437 shares of the bank’s stock valued at $8,361,000 after acquiring an additional 2,026 shares during the period. Finally, State Street Corp increased its stake in shares of ACNB by 3.5% in the 3rd quarter. State Street Corp now owns 142,024 shares of the bank’s stock worth $6,202,000 after purchasing an additional 4,851 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.