Van Hulzen Asset Management LLC Invests $772,000 in ACNB Corporation $ACNB

Van Hulzen Asset Management LLC acquired a new stake in ACNB Corporation (NASDAQ:ACNB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,003 shares of the bank’s stock, valued at approximately $772,000.

Other institutional investors have also made changes to their positions in the company. First United Bank & Trust acquired a new position in ACNB during the first quarter worth $47,000. Russell Investments Group Ltd. acquired a new stake in ACNB in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets lifted its position in ACNB by 56.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after buying an additional 374 shares in the last quarter. Allworth Financial LP bought a new stake in ACNB during the 2nd quarter worth about $66,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of ACNB during the 1st quarter worth about $71,000. Institutional investors own 32.35% of the company’s stock.

Analyst Ratings Changes

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

ACNB Price Performance

NASDAQ:ACNB opened at $64.44 on Tuesday. The stock has a market capitalization of $655.35 million, a PE ratio of 12.23 and a beta of 0.86. ACNB Corporation has a 1-year low of $42.52 and a 1-year high of $65.94. The firm has a fifty day simple moving average of $61.56 and a 200 day simple moving average of $54.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

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

ACNB Dividend Announcement

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 paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. ACNB’s payout ratio is currently 31.88%.

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.