ACNB (NASDAQ:ACNB) Reaches New 52-Week High – Here’s What Happened

Shares of ACNB Corporation (NASDAQ:ACNB) reached a new 52-week high during trading on Wednesday . The company traded as high as $65.27 and last traded at $64.56, with a volume of 96067 shares traded. The stock had previously closed at $64.00.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Hovde Group boosted their target price on shares of ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a research report on Monday. Wall Street Zen cut shares of ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Piper Sandler lifted their price objective on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.50.

ACNB Stock Up 0.9%

The business has a fifty day moving average price of $57.98 and a two-hundred day moving average price of $52.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $659.16 million, a price-to-earnings ratio of 12.25 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, July 23rd. The bank reported $1.49 EPS 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 13.83% and a net margin of 27.15%. On average, equities analysts expect that ACNB Corporation will post 5.56 earnings per share for the current year.

Institutional Trading of ACNB

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Capital Management LLC grew its position in ACNB by 9.9% during 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 period. Informed Momentum Co LLC acquired a new position in shares of ACNB in the 4th quarter valued at about $1,053,000. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $7,802,000 after buying an additional 17,337 shares during the period. Maltese Capital Management LLC boosted its stake in shares of ACNB by 30.5% in the fourth quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after buying an additional 15,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of ACNB by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after buying an additional 14,789 shares during the last quarter. 32.35% of the stock is currently 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.