Insider Selling: ACNB (NASDAQ:ACNB) SVP Sells $38,475.00 in Stock

ACNB Corporation (NASDAQ:ACNB) SVP Kevin Hayes sold 750 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the transaction, the senior vice president owned 2,632 shares of the company’s stock, valued at approximately $135,021.60. This represents a 22.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ACNB Price Performance

ACNB stock traded up $0.75 during mid-day trading on Wednesday, hitting $52.95. The stock had a trading volume of 13,558 shares, compared to its average volume of 30,073. ACNB Corporation has a 52 week low of $35.70 and a 52 week high of $53.41. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $49.65 and a 200 day simple moving average of $46.46. The firm has a market capitalization of $550.19 million, a P/E ratio of 14.89 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. ACNB had a return on equity of 12.77% and a net margin of 19.32%.The business had revenue of $40.74 million for the quarter, compared to analysts’ expectations of $39.69 million. As a group, research analysts forecast that ACNB Corporation will post 3.22 EPS for the current year.

ACNB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 27th. ACNB’s payout ratio is 42.94%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its position in ACNB by 42.9% in the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after acquiring an additional 300 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares during the period. Russell Investments Group Ltd. bought a new position in shares of ACNB in the third quarter worth about $45,000. Tripletail Wealth Management LLC purchased a new stake in ACNB in the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of ACNB by 98.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after acquiring an additional 856 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACNB shares. Piper Sandler upped their price objective on shares of ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ACNB in a report on Monday, December 29th. Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen raised ACNB from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Raymond James Financial cut ACNB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.67.

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.