Empowered Funds LLC Takes Position in ACNB Corporation $ACNB

Empowered Funds LLC acquired a new stake in shares of ACNB Corporation (NASDAQ:ACNB) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 64,319 shares of the bank’s stock, valued at approximately $3,819,000.

Other large investors also recently bought and sold shares of the company. Equitable Trust Co. increased its holdings in ACNB by 2.3% in the 1st quarter. Equitable Trust Co. now owns 9,470 shares of the bank’s stock worth $453,000 after buying an additional 210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ACNB by 5.0% during the 1st 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 holdings in shares of ACNB by 5.2% during the 2nd 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 last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ACNB by 56.5% during the 2nd 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of ACNB by 37.1% during the 4th 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 last quarter. 32.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACNB has been the subject of several research reports. Hovde Group boosted their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Finally, Piper Sandler raised their target price on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, ACNB presently has a consensus rating of “Hold” and an average price target of $64.50.

ACNB Stock Performance

Shares of NASDAQ ACNB opened at $63.98 on Wednesday. ACNB Corporation has a 12-month low of $42.52 and a 12-month high of $66.53. The firm has a market capitalization of $650.68 million, a price-to-earnings ratio of 12.14 and a beta of 0.86. 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 firm has a 50 day moving average of $62.45 and a 200 day moving average of $55.35.

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. The business had revenue of $42.82 million for the quarter, compared to the consensus estimate of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. On average, research analysts anticipate that ACNB Corporation will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

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

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.