ACNB (NASDAQ:ACNB) Reaches New 52-Week High – Time to Buy?

ACNB Corporation (NASDAQ:ACNB) shares reached a new 52-week high on Monday . The company traded as high as $66.53 and last traded at $64.99, with a volume of 81027 shares trading hands. The stock had previously closed at $64.51.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACNB. Hovde Group increased their price objective on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ACNB in a research note on Tuesday, July 21st. Finally, Piper Sandler boosted their price target on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.50.

ACNB Stock Down 1.6%

The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The firm has a market cap of $650.68 million, a price-to-earnings ratio of 12.14 and a beta of 0.86. The stock’s 50 day moving average is $62.45 and its 200 day moving average is $55.35.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. ACNB had a return on equity of 13.78% and a net margin of 27.15%. Analysts forecast that ACNB Corporation will post 5.72 EPS for the current year.

ACNB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.42 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. ACNB’s dividend payout ratio is 31.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACNB. BlackRock Inc. bought a new stake in ACNB in the second quarter worth about $41,871,000. The Manufacturers Life Insurance Company acquired a new stake in ACNB in the 2nd quarter valued at about $9,609,000. Empowered Funds LLC bought a new position in shares of ACNB during the 2nd quarter valued at about $3,819,000. Bank of New York Mellon Corp bought a new position in shares of ACNB during the 2nd quarter valued at about $2,461,000. Finally, Private Capital Management LLC grew its stake in shares of ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after purchasing an additional 31,113 shares during the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

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.