ACNB (NASDAQ:ACNB) Given New $64.00 Price Target at Hovde Group

ACNB (NASDAQ:ACNB) had its price target boosted by stock analysts at Hovde Group from $57.00 to $64.00 in a research report issued on Monday. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 3.06% from the stock’s current price.

A number of other research analysts have also commented on the company. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Piper Sandler upped their target price on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.50.

ACNB Price Performance

ACNB stock opened at $62.10 on Monday. The firm has a market cap of $634.04 million, a PE ratio of 11.78 and a beta of 0.87. ACNB has a 1 year low of $40.80 and a 1 year high of $63.67. The company has a fifty day simple moving average of $57.55 and a 200 day simple moving average of $52.63. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. ACNB had a return on equity of 13.83% and a net margin of 27.15%.The company had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. Sell-side analysts anticipate that ACNB will post 5.49 EPS for the current fiscal year.

Institutional Trading of ACNB

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in ACNB by 56.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACNB during the third quarter worth approximately $45,000. First United Bank & Trust acquired a new position in shares of ACNB during the first quarter worth approximately $47,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of ACNB in the first quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after acquiring an additional 856 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Company Profile

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.