ACNB (NASDAQ:ACNB) Sets New 12-Month High – Should You Buy?

ACNB Corporation (NASDAQ:ACNB)’s share price reached a new 52-week high on Thursday . The company traded as high as $53.91 and last traded at $53.81, with a volume of 2994 shares traded. The stock had previously closed at $53.23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ACNB shares. Piper Sandler reissued an “overweight” rating and issued a $58.00 target price (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

ACNB Stock Up 1.0%

The firm has a fifty day moving average of $49.27 and a 200 day moving average of $49.13. The stock has a market cap of $554.14 million, a PE ratio of 10.95 and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.06. The company had revenue of $40.79 million for the quarter, compared to analyst estimates of $41.07 million. ACNB had a return on equity of 13.30% and a net margin of 25.66%. On average, equities research analysts anticipate that ACNB Corporation will post 5.49 EPS for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. ACNB’s dividend payout ratio is 31.08%.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently made changes to their positions in the company. Private Capital Management LLC grew its holdings in shares of ACNB by 7.3% during the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock worth $17,925,000 after purchasing an additional 25,116 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ACNB by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after purchasing an additional 14,789 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of ACNB by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock worth $6,363,000 after buying an additional 1,224 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of ACNB by 5.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock worth $5,121,000 after buying an additional 5,218 shares during the last quarter. Finally, Maltese Capital Management LLC grew its holdings in shares of ACNB by 30.5% during the fourth quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock worth $3,199,000 after buying an additional 15,464 shares during the last quarter. Hedge funds and other institutional investors 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.