Maltese Capital Management LLC Has $3.20 Million Stock Position in ACNB Corporation $ACNB

Maltese Capital Management LLC raised its position in shares of ACNB Corporation (NASDAQ:ACNB) by 30.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 66,164 shares of the bank’s stock after buying an additional 15,464 shares during the period. Maltese Capital Management LLC’s holdings in ACNB were worth $3,199,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 374 shares during the period. Russell Investments Group Ltd. bought a new position in ACNB in the 3rd quarter worth approximately $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after buying an additional 856 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of ACNB during the second quarter worth approximately $80,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of ACNB by 37.1% in the fourth 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 period. 32.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACNB has been the topic of a number of research reports. Wall Street Zen lowered shares of ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Piper Sandler restated an “overweight” rating and issued a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Hovde Group downgraded shares of ACNB from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. 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 has a consensus rating of “Hold” and a consensus target price of $57.50.

ACNB Stock Performance

Shares of ACNB stock opened at $56.48 on Tuesday. ACNB Corporation has a 52 week low of $40.15 and a 52 week high of $58.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $576.66 million, a price-to-earnings ratio of 11.55 and a beta of 0.88. The firm has a fifty day moving average of $52.72 and a two-hundred day moving average of $50.66.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The business had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. As a group, equities research analysts predict that ACNB Corporation will post 5.49 EPS for the current year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.42 per share. This is a boost from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, June 1st. ACNB’s dividend payout ratio is presently 34.36%.

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.