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 on Wednesday. The company traded as high as $68.23 and last traded at $67.5280, with a volume of 2,831 shares. The stock had previously closed at $67.12.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a research note on Monday, October 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.50.

ACNB Trading Up 1.8%

The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $64.22 and a 200 day moving average price of $56.88. The company has a market cap of $685.22 million, a price-to-earnings ratio of 12.48 and a beta of 0.90.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, October 22nd. The bank reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. ACNB had a net margin of 27.16% and a return on equity of 13.87%. The company had revenue of $43.81 million for the quarter, compared to analysts’ expectations of $43.02 million. As a group, sell-side analysts forecast that ACNB Corporation will post 5.81 EPS for the current year.

ACNB Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, December 1st. ACNB’s dividend payout ratio is presently 31.11%.

Institutional Investors Weigh In On ACNB

Several large investors have recently made changes to their positions in ACNB. BlackRock Inc. acquired a new stake in ACNB in the 2nd quarter valued at approximately $41,871,000. The Manufacturers Life Insurance Company acquired a new stake in ACNB in the 2nd quarter valued at about $9,609,000. Empowered Funds LLC acquired a new position in ACNB in the second quarter worth approximately $3,819,000. Bank of New York Mellon Corp bought a new stake in shares of ACNB during the 2nd quarter worth $2,461,000. Finally, Bank of America Corp DE acquired a new position in shares of ACNB in the 2nd quarter valued at $1,847,000. Institutional investors and hedge funds own 32.35% of the company’s stock.

ACNB Company Profile

ACNB Corporation (NASDAQ: ACNB) is a financial holding company headquartered in Gettysburg, Pennsylvania. Its principal subsidiary, ACNB Bank, provides community banking services to individuals, families, farmers, and businesses.

ACNB Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, business banking, cash-management services, and online and mobile banking. Through affiliated businesses, the company also provides insurance and wealth-management services.

Founded in 1857, ACNB serves communities in south-central Pennsylvania and central Maryland through its banking offices and digital channels.