ACNB (NASDAQ:ACNB) Hits New 12-Month High – What’s Next?

ACNB Corporation (NASDAQ:ACNB)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $65.94 and last traded at $64.52, with a volume of 65315 shares traded. The stock had previously closed at $64.48.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ACNB shares. Wall Street Zen downgraded shares of ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Piper Sandler upped their target price on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Hovde Group increased their target price on shares of ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.50.

ACNB Trading Up 0.1%

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 business has a 50 day moving average of $58.76 and a 200-day moving average of $53.30. The stock has a market cap of $658.75 million, a PE ratio of 12.24 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.11. ACNB had a return on equity of 13.83% and a net margin of 27.15%.The company had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.21 million. On average, analysts anticipate that ACNB Corporation will post 5.72 EPS for the current year.

ACNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.6%. ACNB’s dividend payout ratio (DPR) is presently 31.88%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Private Capital Management LLC lifted its stake in shares of 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 purchased a new stake in shares of ACNB in the fourth quarter valued at $1,053,000. The Manufacturers Life Insurance Company grew its position in shares of ACNB by 11.9% in the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after purchasing an additional 17,337 shares during the period. Maltese Capital Management LLC increased its stake in ACNB by 30.5% in the fourth quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock valued at $3,199,000 after purchasing an additional 15,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in ACNB by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after purchasing an additional 14,789 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.