Van Hulzen Asset Management LLC Takes Position in ACNB Corporation $ACNB

Van Hulzen Asset Management LLC bought a new stake in ACNB Corporation (NASDAQ:ACNB) in the 2nd quarter, Holdings Channel.com reports. The firm bought 13,003 shares of the bank’s stock, valued at approximately $772,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in ACNB in the second quarter valued at approximately $41,871,000. The Manufacturers Life Insurance Company bought a new position in shares of ACNB during the 2nd quarter worth approximately $9,609,000. Empowered Funds LLC bought a new position in shares of ACNB during the 2nd quarter worth approximately $3,819,000. Bank of New York Mellon Corp acquired a new position in shares of ACNB during the 2nd quarter worth approximately $2,461,000. Finally, Private Capital Management LLC increased its holdings in shares of ACNB by 9.9% during the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after acquiring an additional 31,113 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

NASDAQ ACNB opened at $65.02 on Friday. The firm has a 50-day moving average price of $63.24 and a two-hundred day moving average price of $56.00. ACNB Corporation has a 12-month low of $42.52 and a 12-month high of $67.60. The company has a market capitalization of $661.25 million, a P/E ratio of 12.34 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, July 23rd. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.38 by $0.11. The company had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.78%. Analysts anticipate that ACNB Corporation will post 5.72 earnings per share for the current year.

ACNB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.42 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.6%. ACNB’s dividend payout ratio (DPR) is presently 31.88%.

Wall Street Analyst Weigh In

ACNB has been the subject of several research reports. Piper Sandler raised their price target on ACNB from $58.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Hovde Group increased 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ACNB in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.50.

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.