ACNB (NASDAQ:ACNB) Releases Earnings Results, Beats Estimates By $0.09 EPS

ACNB (NASDAQ:ACNB) posted its earnings results on Thursday. The bank reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09, Zacks reports. The firm had revenue of $40.74 million for the quarter, compared to analyst estimates of $39.69 million. ACNB had a return on equity of 11.58% and a net margin of 18.47%.

ACNB Trading Up 0.3%

ACNB opened at $50.85 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.62. ACNB has a 52 week low of $35.70 and a 52 week high of $53.41. The business’s 50 day moving average is $49.26 and its two-hundred day moving average is $46.06. The firm has a market cap of $528.33 million, a price-to-earnings ratio of 15.55 and a beta of 0.87.

Analysts Set New Price Targets

A number of research firms have recently commented on ACNB. Raymond James Financial downgraded ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Piper Sandler upped their price target on ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Zacks Research raised shares of ACNB from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Wall Street Zen upgraded shares of ACNB from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.67.

Insider Activity at ACNB

In related news, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $51.00, for a total transaction of $255,000.00. Following the completion of the sale, the director owned 5,927 shares in the company, valued at $302,277. This represents a 45.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brett D. Fulk sold 2,773 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $52.27, for a total transaction of $144,944.71. Following the transaction, the executive vice president directly owned 3,306 shares in the company, valued at $172,804.62. The trade was a 45.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACNB

Several hedge funds have recently made changes to their positions in ACNB. Private Capital Management LLC increased its position in ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock valued at $15,221,000 after acquiring an additional 31,113 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ACNB by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 311,278 shares of the bank’s stock valued at $13,708,000 after purchasing an additional 8,157 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ACNB by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock valued at $6,363,000 after purchasing an additional 1,224 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of ACNB by 3.6% in the second quarter. Bridgeway Capital Management LLC now owns 100,511 shares of the bank’s stock valued at $4,306,000 after purchasing an additional 3,455 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of ACNB by 31.9% during the second quarter. Rhumbline Advisers now owns 15,515 shares of the bank’s stock worth $665,000 after purchasing an additional 3,749 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

About ACNB

ACNB Corporation is the bank holding company for ACNB Bank, a community-focused financial institution headquartered in Gettysburg, Pennsylvania. Tracing its roots to a local banking organization established in the 19th century, the company has evolved into a regional banking franchise serving individuals, families and businesses across south-central Pennsylvania. As a publicly traded company on NASDAQ under the ticker ACNB, it operates under a traditional community banking model, emphasizing personal service and local decision-making.

The company’s main business activities encompass a full range of retail and commercial banking products.