Maltese Capital Management LLC Has $2.23 Million Position in ACNB Corporation $ACNB

Maltese Capital Management LLC boosted its stake in shares of ACNB Corporation (NASDAQ:ACNB) by 112.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,700 shares of the bank’s stock after purchasing an additional 26,820 shares during the period. Maltese Capital Management LLC owned about 0.49% of ACNB worth $2,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of ACNB by 42.9% during the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after buying an additional 300 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ACNB by 56.5% in the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ACNB during the third quarter worth $45,000. Tripletail Wealth Management LLC purchased a new stake in shares of ACNB during the third quarter worth $46,000. Finally, Tower Research Capital LLC TRC boosted its position in ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after purchasing an additional 856 shares during the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ACNB shares. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.67.

Insider Buying and Selling at ACNB

In other ACNB news, EVP Brett D. Fulk sold 1,486 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $48.52, for a total transaction of $72,100.72. Following the transaction, the executive vice president directly owned 1,048 shares in the company, valued at approximately $50,848.96. This represents a 58.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin J. Hayes sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the sale, the senior vice president directly owned 2,632 shares of the company’s stock, valued at approximately $135,021.60. This trade represents a 22.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.53% of the company’s stock.

ACNB Trading Up 2.1%

ACNB stock opened at $47.47 on Tuesday. ACNB Corporation has a one year low of $35.70 and a one year high of $53.89. The company’s fifty day moving average price is $49.98 and its two-hundred day moving average price is $47.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $491.31 million, a price-to-earnings ratio of 13.41 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. ACNB had a return on equity of 12.58% and a net margin of 19.32%.The company had revenue of $40.74 million during the quarter, compared to analysts’ expectations of $39.69 million. On average, analysts forecast that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. ACNB’s payout ratio is presently 42.94%.

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.