ACNB (NASDAQ:ACNB) Hits New 1-Year High – Here’s What Happened

ACNB Corporation (NASDAQ:ACNB)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $55.57 and last traded at $55.48, with a volume of 32086 shares changing hands. The stock had previously closed at $54.13.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings upgraded shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Piper Sandler reiterated 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. Wall Street Zen lowered shares of ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Hovde Group lowered shares of ACNB from an “outperform” rating to a “market perform” rating and increased their price target for the company from $56.00 to $57.00 in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.50.

ACNB Stock Performance

The stock’s 50-day moving average is $51.50 and its 200-day moving average is $50.21. The stock has a market cap of $560.64 million, a price-to-earnings ratio of 11.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93.

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

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. This is an increase from ACNB’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, June 1st. ACNB’s dividend payout ratio (DPR) is 34.36%.

Institutional Trading of ACNB

A number of hedge funds have recently bought and sold shares of ACNB. BNP Paribas Financial Markets boosted its position in ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACNB in the 3rd quarter valued at $45,000. First United Bank & Trust acquired a new position in shares of ACNB in the 1st quarter valued at $47,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of ACNB in the 1st quarter valued at $71,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of 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 purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

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.