ACNB (NASDAQ:ACNB – Get Free Report)‘s stock had its “market perform” rating reaffirmed by analysts at Hovde Group in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $57.00 target price on the bank’s stock, up from their previous target price of $56.00. Hovde Group’s target price indicates a potential upside of 3.52% from the company’s previous close.
A number of other research analysts have also recently issued reports on ACNB. Zacks Research cut shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings upgraded shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Wall Street Zen cut shares of ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, ACNB has a consensus rating of “Hold” and a consensus target price of $57.50.
Read Our Latest Report on ACNB
ACNB Trading Up 1.1%
ACNB (NASDAQ:ACNB – Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. The company had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. As a group, equities analysts expect that ACNB will post 5.49 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ACNB
Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in shares of ACNB by 56.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after purchasing an additional 374 shares during the period. Russell Investments Group Ltd. bought a new position in ACNB during the third quarter valued at about $45,000. First United Bank & Trust purchased a new stake in ACNB during the first quarter worth about $47,000. Cassaday & Co Wealth Management LLC bought a new stake in ACNB in the first quarter worth about $71,000. Finally, Tower Research Capital LLC TRC raised its position in 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 period. 32.35% of the stock is owned by hedge funds and other institutional investors.
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.
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