ACNB (NASDAQ:ACNB) Sets New 12-Month High – Here’s What Happened

ACNB Corporation (NASDAQ:ACNB)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $65.94 and last traded at $64.52, with a volume of 65315 shares. The stock had previously closed at $64.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings reissued a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Piper Sandler upped their price objective on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Hovde Group raised their price objective on ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.50.

ACNB Stock Performance

The stock has a market capitalization of $666.13 million, a price-to-earnings ratio of 12.38 and a beta of 0.86. The company’s fifty day simple moving average is $59.18 and its 200 day simple moving average is $53.53. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The company had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.83%. On average, equities research analysts expect that ACNB Corporation will post 5.72 earnings per share for the current year.

ACNB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 annualized dividend and a yield of 2.6%. ACNB’s dividend payout ratio (DPR) is 31.88%.

Hedge Funds Weigh In On ACNB

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Capital Management LLC increased its stake in shares of ACNB by 7.3% during the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock worth $17,925,000 after purchasing an additional 25,116 shares during the period. Dimensional Fund Advisors LP grew its holdings in ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after buying an additional 14,789 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after buying an additional 17,337 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in ACNB by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock worth $6,363,000 after buying an additional 1,224 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in ACNB by 5.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after buying an additional 5,218 shares during the period. 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.