ACNB (NASDAQ:ACNB) Reaches New 12-Month High – Still a Buy?

Shares of ACNB Corporation (NASDAQ:ACNB) hit a new 52-week high on Thursday . The company traded as high as $49.85 and last traded at $49.7740, with a volume of 944 shares changing hands. The stock had previously closed at $49.45.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ACNB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research note on Monday. Piper Sandler lifted their target price on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial downgraded ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research raised ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $48.67.

ACNB Trading Up 0.7%

The business’s 50-day simple moving average is $45.70 and its two-hundred day simple moving average is $44.19. 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 company has a market capitalization of $516.91 million, a PE ratio of 15.22 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $1.42 EPS for the quarter, topping the consensus estimate of $1.20 by $0.22. The business had revenue of $40.54 million for the quarter, compared to analysts’ expectations of $39.83 million. ACNB had a return on equity of 11.58% and a net margin of 18.47%. On average, analysts predict that ACNB Corporation will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. This is a boost from ACNB’s previous quarterly dividend of $0.34. ACNB’s dividend payout ratio (DPR) is 46.48%.

Institutional Trading of ACNB

A number of institutional investors and hedge funds have recently made changes to their positions in ACNB. Allworth Financial LP lifted its stake in ACNB by 42.9% in the second 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 last quarter. BNP Paribas Financial Markets boosted its stake in ACNB by 56.5% during the 2nd 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 ACNB in the 3rd quarter worth about $45,000. Tripletail Wealth Management LLC acquired a new position in shares of ACNB during the third quarter valued at $46,000. Finally, Tower Research Capital LLC TRC grew its position in ACNB by 98.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after buying an additional 856 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

ACNB Company Profile

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.