ACNB Corp. initiated with an Outperform at Raymond James

Raymond James analyst Daniel Tamayo initiated coverage of ACNB Corp. (ACNB) with an Outperform rating and $47 price target ACNB Bank, the wholly-owned subsidiary of ACNB Corp., is a community bank in Pennsylvania that possesses “a longstanding and enviable core deposit franchise,” coupled with solid growth in higher-yielding commercial lending segments, the analyst tells investors. The firm expects ACNB to be an active acquirer over time, most recently evidenced by its acquisition of Traditions Bancorp in February, the analyst added.