Piper Sandler Lowers ACNB (NASDAQ:ACNB) Price Target to $37.00

ACNB (NASDAQ:ACNB) had its target price lowered by Piper Sandler from $40.00 to $37.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Separately, StockNews.com raised ACNB from a sell rating to a hold rating in a report on Tuesday, April 30th.

ACNB Stock Down 0.5 %

NASDAQ ACNB opened at $33.24 on Wednesday. ACNB has a 12 month low of $27.00 and a 12 month high of $48.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The stock has a market cap of $282.71 million, a PE ratio of 9.61 and a beta of 0.64. The stock’s 50 day moving average is $34.58 and its 200 day moving average is $38.07.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, April 25th. The bank reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $31.64 million for the quarter, compared to the consensus estimate of $26.28 million. ACNB had a net margin of 24.98% and a return on equity of 11.18%. Research analysts predict that ACNB will post 3.3 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.32 dividend. This is a boost from ACNB’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Friday, May 31st. ACNB’s dividend payout ratio (DPR) is presently 36.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACNB. BNP Paribas Financial Markets lifted its stake in shares of ACNB by 83.3% in the 1st quarter. BNP Paribas Financial Markets now owns 4,091 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,859 shares during the last quarter. Haverford Trust Co bought a new position in ACNB during the fourth quarter valued at $1,521,000. Savant Capital LLC purchased a new stake in shares of ACNB in the fourth quarter valued at $264,000. RKL Wealth Management LLC bought a new stake in shares of ACNB in the 4th quarter worth about $434,000. Finally, Allworth Financial LP purchased a new position in shares of ACNB during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 32.35% of the company’s stock.

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.