ACNB (NASDAQ:ACNB) Reaches New 52-Week High – Still a Buy?

ACNB Corporation (NASDAQ:ACNB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.55 and last traded at $55.55, with a volume of 5273 shares changing hands. The stock had previously closed at $54.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ACNB shares. Wall Street Zen lowered shares of ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings raised shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Finally, Zacks Research cut shares of ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, ACNB has an average rating of “Moderate Buy” and an average price target of $58.00.

ACNB Stock Up 0.7%

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 stock’s 50-day moving average is $50.30 and its 200-day moving average is $49.85. The company has a market cap of $559.71 million, a price-to-earnings ratio of 11.21 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The company had revenue of $40.79 million for the quarter, compared to the consensus estimate of $41.07 million. On average, analysts anticipate that ACNB Corporation will post 5.49 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, June 1st. This is a boost from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is presently 31.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Private Capital Management LLC increased its holdings in shares of ACNB by 9.9% during the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock valued at $15,221,000 after acquiring an additional 31,113 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of ACNB by 112.3% during the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock valued at $2,233,000 after acquiring an additional 26,820 shares in the last quarter. Informed Momentum Co LLC bought a new stake in shares of ACNB during the fourth quarter valued at approximately $1,053,000. The Manufacturers Life Insurance Company increased its holdings in shares of ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after acquiring an additional 17,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of ACNB by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after acquiring an additional 14,789 shares in the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.