ACNB (NASDAQ:ACNB) Hits New 52-Week High – What’s Next?

ACNB Corporation (NASDAQ:ACNB)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $59.06 and last traded at $58.4250, with a volume of 4639 shares changing hands. The stock had previously closed at $56.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Piper Sandler restated an “overweight” rating and issued a $58.00 price target (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Hovde Group downgraded shares of ACNB from an “outperform” rating to a “market perform” rating and upped their target price for the company from $56.00 to $57.00 in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, ACNB presently has a consensus rating of “Hold” and a consensus target price of $57.50.

ACNB Stock Performance

The company has a market capitalization of $597.32 million, a price-to-earnings ratio of 12.01 and a beta of 0.88. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $53.56 and a 200-day simple moving average of $51.01.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The firm had revenue of $40.79 million for the quarter, compared to the consensus estimate of $41.07 million. ACNB had a net margin of 25.66% and a return on equity of 13.15%. On average, analysts anticipate that ACNB Corporation will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

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

Hedge Funds Weigh In On ACNB

Several large investors have recently added to or reduced their stakes in the company. Maltese Capital Management LLC increased its stake in ACNB by 112.3% during the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock valued at $2,233,000 after purchasing an additional 26,820 shares during the last quarter. Equitable Trust Co. lifted its position in shares of ACNB by 9.1% in the 3rd quarter. Equitable Trust Co. now owns 9,030 shares of the bank’s stock worth $398,000 after buying an additional 750 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after buying an additional 17,337 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of ACNB during the 1st quarter valued at about $71,000. Finally, RKL Wealth Management LLC raised its stake in ACNB by 32.7% during the first quarter. RKL Wealth Management LLC now owns 13,405 shares of the bank’s stock worth $642,000 after acquiring an additional 3,307 shares during the period. 32.35% of the stock is currently owned by institutional investors.

ACNB Company Profile

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.