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

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

Analyst Upgrades and Downgrades

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

ACNB Price Performance

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 company has a market cap of $559.71 million, a price-to-earnings ratio of 11.21 and a beta of 0.87. The business has a fifty day moving average price of $50.30 and a 200 day moving average price of $49.85.

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

ACNB Increases Dividend

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

Hedge Funds Weigh In On ACNB

Large investors have recently bought and sold shares of the company. First United Bank & Trust bought a new position in ACNB in the 1st quarter valued at approximately $47,000. Russell Investments Group Ltd. bought a new position in ACNB in the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets raised its holdings in ACNB by 56.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after buying an additional 374 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in ACNB in the 1st quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC raised its holdings 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 during the last quarter. 32.35% of the stock is currently owned by institutional investors.

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.