ACNB (NASDAQ:ACNB) Hits New 12-Month High – Here’s Why

ACNB Corporation (NASDAQ:ACNB)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $66.53 and last traded at $64.99, with a volume of 81027 shares traded. The stock had previously closed at $64.51.

Wall Street Analysts Forecast Growth

ACNB has been the subject of several analyst reports. Hovde Group lifted their price target on shares of ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Piper Sandler raised their price objective on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, ACNB presently has an average rating of “Hold” and an average target price of $64.50.

ACNB Trading Up 0.7%

The company’s 50-day moving average is $62.17 and its 200-day moving average is $55.18. 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 firm has a market cap of $660.95 million, a price-to-earnings ratio of 12.33 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.78%. The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million. On average, research analysts predict that ACNB Corporation will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

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

Hedge Funds Weigh In On ACNB

Several large investors have recently made changes to their positions in ACNB. Equitable Trust Co. raised its stake in shares of ACNB by 2.3% during the first quarter. Equitable Trust Co. now owns 9,470 shares of the bank’s stock worth $453,000 after buying an additional 210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ACNB by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock valued at $203,000 after acquiring an additional 234 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of ACNB by 5.2% in the 2nd quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after purchasing an additional 334 shares during the period. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 374 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in ACNB by 37.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock valued at $107,000 after buying an additional 600 shares during the period. 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.