ACNB Corporation (NASDAQ:ACNB) Receives Consensus Rating of “Hold” from Analysts

ACNB Corporation (NASDAQ:ACNB) has been given a consensus rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $57.50.

ACNB has been the topic of a number of analyst reports. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $56.00 to $57.00 in a research report on Wednesday, May 27th. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 target price (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th.

Hedge Funds Weigh In On ACNB

A number of hedge funds have recently bought and sold shares of the company. Equitable Trust Co. boosted its stake in ACNB by 2.3% in the first quarter. Equitable Trust Co. now owns 9,470 shares of the bank’s stock valued at $453,000 after acquiring an additional 210 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ACNB by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock valued at $203,000 after acquiring an additional 234 shares during the period. First Trust Advisors LP boosted its stake in ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after acquiring an additional 334 shares during the period. BNP Paribas Financial Markets boosted its stake in ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after acquiring an additional 374 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in ACNB by 37.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock valued at $107,000 after acquiring an additional 600 shares during the period. 32.35% of the stock is currently owned by institutional investors and hedge funds.

ACNB Price Performance

Shares of NASDAQ ACNB opened at $57.22 on Friday. ACNB has a 1 year low of $40.71 and a 1 year high of $58.54. The firm has a market cap of $584.22 million, a price-to-earnings ratio of 11.70 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50-day simple moving average is $53.32 and its 200-day simple moving average is $50.87.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The business had revenue of $40.79 million for the quarter, compared to analyst estimates of $41.07 million. As a group, equities analysts anticipate that ACNB will post 5.49 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.9%. This is a positive change from ACNB’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, June 1st. ACNB’s payout ratio is 34.36%.

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.