ACNB (NASDAQ:ACNB) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

ACNB Co. (NASDAQ:ACNB)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.38 and traded as low as $41.03. ACNB shares last traded at $41.40, with a volume of 22,415 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Janney Montgomery Scott began coverage on ACNB in a research report on Tuesday, November 19th. They issued a “buy” rating and a $53.00 price objective for the company. Piper Sandler raised ACNB from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $50.00 in a research note on Monday, March 3rd.

ACNB Stock Up 1.0 %

The business has a 50 day moving average of $40.39 and a 200-day moving average of $42.38. The stock has a market cap of $358.12 million, a PE ratio of 11.23 and a beta of 0.65. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.83.

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 analysts’ consensus estimates of $0.83 by ($0.06). ACNB had a return on equity of 10.91% and a net margin of 24.09%. Equities research analysts predict that ACNB Co. will post 3.22 EPS for the current fiscal year.

ACNB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a yield of 3.06%. ACNB’s payout ratio is 34.32%.

Institutional Trading of ACNB

Several hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in shares of ACNB by 34.9% in the fourth quarter. Millennium Management LLC now owns 7,627 shares of the bank’s stock valued at $304,000 after purchasing an additional 1,972 shares during the period. Deutsche Bank AG increased its holdings in ACNB by 7.9% in the fourth quarter. Deutsche Bank AG now owns 7,800 shares of the bank’s stock valued at $311,000 after buying an additional 570 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of ACNB by 2.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 101,187 shares of the bank’s stock valued at $4,030,000 after purchasing an additional 2,379 shares during the last quarter. Citadel Advisors LLC raised its position in shares of ACNB by 117.7% during the 4th quarter. Citadel Advisors LLC now owns 23,536 shares of the bank’s stock worth $937,000 after purchasing an additional 12,727 shares during the period. Finally, Bank of America Corp DE increased its position in ACNB by 29.8% in the 4th quarter. Bank of America Corp DE now owns 12,321 shares of the bank’s stock valued at $491,000 after acquiring an additional 2,832 shares during the period. 32.35% of the stock is owned by institutional investors and hedge funds.

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.