ACNB (NASDAQ:ACNB) Upgraded to “Hold” by StockNews.com

ACNB (NASDAQ:ACNB) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

ACNB Stock Up 0.9 %

ACNB stock traded up $0.29 during mid-day trading on Tuesday, hitting $32.54. 12,711 shares of the company were exchanged, compared to its average volume of 16,470. The company has a market capitalization of $276.92 million, a PE ratio of 9.40 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. ACNB has a twelve month low of $27.00 and a twelve month high of $48.55. The firm has a fifty day simple moving average of $34.83 and a 200 day simple moving average of $38.10.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. ACNB had a net margin of 24.98% and a return on equity of 11.18%. The company had revenue of $31.64 million during the quarter, compared to analyst estimates of $26.28 million. On average, research analysts forecast that ACNB will post 3.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACNB. Bank of New York Mellon Corp boosted its stake in ACNB by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 30,627 shares of the bank’s stock valued at $968,000 after purchasing an additional 326 shares during the period. Allworth Financial LP acquired a new position in ACNB during the 4th quarter valued at about $31,000. LSV Asset Management boosted its stake in ACNB by 2.6% during the 3rd quarter. LSV Asset Management now owns 27,598 shares of the bank’s stock valued at $872,000 after purchasing an additional 709 shares during the period. SG Americas Securities LLC boosted its stake in ACNB by 21.0% during the 4th quarter. SG Americas Securities LLC now owns 4,585 shares of the bank’s stock valued at $205,000 after purchasing an additional 795 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in ACNB by 2,578.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the bank’s stock valued at $86,000 after purchasing an additional 2,630 shares during the period. 32.35% of the stock is 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.