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

ACNB Corporation (NASDAQ:ACNB)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $55.01 and last traded at $53.2810, with a volume of 155 shares changing hands. The stock had previously closed at $53.34.

Analyst Upgrades and Downgrades

ACNB has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $58.00 price objective (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, ACNB currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

ACNB Price Performance

The company has a market capitalization of $553.18 million, a PE ratio of 11.08 and a beta of 0.87. The firm has a fifty day moving average of $49.85 and a two-hundred day moving average of $49.66. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The company had revenue of $40.79 million during the quarter, compared to analysts’ expectations of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. Research analysts anticipate that ACNB Corporation will post 5.49 EPS 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 issued a dividend of $0.42 per share. The ex-dividend date is Monday, June 1st. This represents a $1.68 annualized dividend and a yield of 3.1%. This is a boost from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio (DPR) is currently 31.08%.

Institutional Investors Weigh In On ACNB

Several institutional investors have recently bought and sold shares of the stock. Private Capital Management LLC boosted its holdings in ACNB by 7.3% during the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after acquiring an additional 25,116 shares during the period. Dimensional Fund Advisors LP lifted 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 worth $16,029,000 after buying an additional 14,789 shares during the period. The Manufacturers Life Insurance Company lifted 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 worth $7,802,000 after buying an additional 17,337 shares during the period. Bridgeway Capital Management LLC lifted its holdings in ACNB by 5.2% in 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. Finally, Maltese Capital Management LLC lifted its holdings in ACNB by 30.5% in the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after buying an additional 15,464 shares during the period. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.