Brett Fulk Sells 2,773 Shares of ACNB (NASDAQ:ACNB) Stock

ACNB Corporation (NASDAQ:ACNB) EVP Brett Fulk sold 2,773 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $52.27, for a total value of $144,944.71. Following the completion of the sale, the executive vice president directly owned 3,306 shares of the company’s stock, valued at approximately $172,804.62. This represents a 45.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ACNB Trading Up 0.1%

ACNB stock opened at $52.88 on Friday. The company has a market capitalization of $549.42 million, a PE ratio of 16.17 and a beta of 0.87. 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 Corporation has a one year low of $35.70 and a one year high of $53.41. The company’s 50 day moving average price is $47.34 and its two-hundred day moving average price is $44.85.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, October 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22. The company had revenue of $40.54 million during the quarter, compared to analysts’ expectations of $39.83 million. ACNB had a net margin of 18.47% and a return on equity of 11.58%. As a group, analysts predict that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from ACNB’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, December 1st. ACNB’s payout ratio is 46.48%.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP lifted its stake in ACNB by 42.9% in the second quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock worth $43,000 after acquiring an additional 300 shares during the period. BNP Paribas Financial Markets raised its holdings in ACNB by 56.5% in 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 in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ACNB in the 3rd quarter worth about $45,000. Tripletail Wealth Management LLC bought a new stake in shares of ACNB during the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of ACNB by 98.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after purchasing an additional 856 shares in the last quarter. 32.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.