ACNB (NASDAQ:ACNB – Get Free Report) had its price target lowered by research analysts at Piper Sandler from $40.00 to $37.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 14.76% from the company’s current price.
Separately, StockNews.com raised ACNB from a “sell” rating to a “hold” rating in a report on Tuesday.
ACNB Trading Down 0.9 %
ACNB (NASDAQ:ACNB – Get Free Report) last issued its earnings results on Thursday, April 25th. The bank reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $31.64 million during the quarter, compared to the consensus estimate of $26.28 million. ACNB had a return on equity of 11.18% and a net margin of 24.98%. Analysts predict that ACNB will post 3.4 earnings per share for the current year.
Institutional Investors Weigh In On ACNB
Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new stake in ACNB in the 4th quarter worth $31,000. Allspring Global Investments Holdings LLC boosted its stake in shares of ACNB by 2,578.4% during the third 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of ACNB during the third quarter valued at approximately $120,000. Savant Capital LLC acquired a new stake in ACNB in the fourth quarter valued at approximately $264,000. Finally, RKL Wealth Management LLC purchased a new position in shares of ACNB in the fourth quarter worth $434,000. 32.35% of the stock is currently owned by hedge funds and other 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.
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