ACNB (NASDAQ:ACNB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of ACNB (NASDAQ:ACNB) from a neutral rating to an overweight rating in a report issued on Monday morning, MarketBeat reports. Piper Sandler currently has $50.00 target price on the bank’s stock, up from their previous target price of $37.00.

ACNB has been the subject of a number of other research reports. StockNews.com upgraded ACNB from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Janney Montgomery Scott began coverage on shares of ACNB in a research report on Tuesday, November 19th. They set a “buy” rating and a $53.00 price objective for the company.

ACNB Stock Performance

ACNB opened at $41.16 on Monday. The business’s 50-day moving average price is $40.13 and its two-hundred day moving average price is $42.37. ACNB has a 1 year low of $30.24 and a 1 year high of $50.72. The company has a market capitalization of $351.88 million, a price-to-earnings ratio of 11.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94.

ACNB (NASDAQ:ACNB) last released its quarterly 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%. Equities analysts expect that ACNB will post 3.22 EPS for the current fiscal year.

ACNB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.28 annualized dividend and a yield of 3.11%. ACNB’s dividend payout ratio (DPR) is 34.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. RKL Wealth Management LLC lifted its holdings in shares of ACNB by 3.3% during the 3rd quarter. RKL Wealth Management LLC now owns 10,098 shares of the bank’s stock worth $441,000 after acquiring an additional 326 shares during the last quarter. Haverford Trust Co bought a new position in shares of ACNB during the third quarter valued at about $200,000. Empowered Funds LLC raised its stake in shares of ACNB by 5.4% during the third quarter. Empowered Funds LLC now owns 47,408 shares of the bank’s stock valued at $2,070,000 after acquiring an additional 2,412 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of ACNB during the third quarter valued at about $300,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of ACNB by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 116,196 shares of the bank’s stock valued at $5,074,000 after acquiring an additional 13,840 shares during the last quarter. 32.35% of the stock is owned by institutional investors.

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.