ACNB (NASDAQ:ACNB) Sets New 12-Month High – What’s Next?

ACNB Corporation (NASDAQ:ACNB) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.37 and last traded at $50.67, with a volume of 31079 shares trading hands. The stock had previously closed at $49.64.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ACNB shares. Piper Sandler upped their target price on ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings cut shares of ACNB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Wall Street Zen upgraded shares of ACNB from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Raymond James Financial cut shares of ACNB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 7th. Finally, Zacks Research upgraded shares of ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

ACNB Stock Up 1.0%

The firm has a market cap of $536.02 million, a price-to-earnings ratio of 15.78 and a beta of 0.87. The business’s 50-day moving average is $46.46 and its 200-day moving average is $44.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22. The firm had revenue of $40.54 million for the quarter, compared to analyst estimates of $39.83 million. ACNB had a net margin of 18.47% and a return on equity of 11.58%. On average, equities analysts predict that ACNB Corporation will post 3.22 EPS for the current year.

ACNB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.9%. This is a positive change from ACNB’s previous quarterly dividend of $0.34. ACNB’s payout ratio is 46.48%.

Institutional Trading of ACNB

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Turning Point Benefit Group Inc. bought a new position in shares of ACNB in the third quarter valued at about $198,000. Private Capital Management LLC raised its stake in shares of ACNB by 9.9% in the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after acquiring an additional 31,113 shares during the last quarter. Maltese Capital Management LLC lifted its position in shares of ACNB by 112.3% during the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock worth $2,233,000 after purchasing an additional 26,820 shares in the last quarter. Millennium Management LLC bought a new stake in shares of ACNB during the third quarter valued at approximately $414,000. Finally, Equitable Holdings Inc. increased its holdings in shares of ACNB by 15.1% in the third quarter. Equitable Holdings Inc. now owns 6,214 shares of the bank’s stock valued at $274,000 after purchasing an additional 814 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

ACNB Company Profile

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.