ACNB (NASDAQ:ACNB) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

ACNB (NASDAQ:ACNB) announced its quarterly earnings data on Thursday. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06, FiscalAI reports. ACNB had a return on equity of 12.58% and a net margin of 19.32%.The business had revenue of $40.79 million during the quarter, compared to analyst estimates of $41.07 million.

ACNB Price Performance

ACNB stock opened at $50.48 on Friday. The firm has a market capitalization of $522.47 million, a P/E ratio of 14.26 and a beta of 0.86. ACNB has a one year low of $40.15 and a one year high of $53.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.94. The business has a fifty day moving average price of $49.28 and a 200-day moving average price of $48.61.

ACNB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, February 27th. ACNB’s dividend payout ratio (DPR) is presently 42.94%.

Insider Transactions at ACNB

In other news, SVP Kevin J. Hayes sold 750 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the sale, the senior vice president directly owned 2,632 shares in the company, valued at $135,021.60. This represents a 22.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brett D. Fulk sold 1,486 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $48.52, for a total transaction of $72,100.72. Following the completion of the sale, the executive vice president directly owned 1,048 shares in the company, valued at approximately $50,848.96. The trade was a 58.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.73% of the company’s stock.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ACNB by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after purchasing an additional 234 shares in the last quarter. First Trust Advisors LP boosted its holdings in 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 position in shares of ACNB by 56.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ACNB by 37.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock worth $107,000 after purchasing an additional 600 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of ACNB by 9.1% in the fourth quarter. AQR Capital Management LLC now owns 8,805 shares of the bank’s stock worth $426,000 after purchasing an additional 735 shares during the period. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a report on Friday, March 27th. Finally, Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.