Maltese Capital Management LLC Increases Stock Position in ACNB Corporation $ACNB

Maltese Capital Management LLC grew its stake in ACNB Corporation (NASDAQ:ACNB) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,164 shares of the bank’s stock after purchasing an additional 15,464 shares during the period. Maltese Capital Management LLC owned approximately 0.64% of ACNB worth $3,199,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ACNB. Private Capital Management LLC increased its position in 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 purchasing an additional 31,113 shares during the period. Informed Momentum Co LLC purchased a new stake in ACNB during the fourth quarter worth about $1,053,000. Millennium Management LLC purchased a new stake in shares of ACNB during the 3rd quarter worth approximately $414,000. Marshall Wace LLP acquired a new stake in ACNB in the fourth quarter valued at $432,000. Finally, Dimensional Fund Advisors LP increased its position in shares of ACNB by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 320,055 shares of the bank’s stock valued at $15,475,000 after buying an additional 8,777 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

ACNB Stock Performance

Shares of ACNB stock opened at $56.48 on Tuesday. The company has a market cap of $576.66 million, a P/E ratio of 11.55 and a beta of 0.88. The business has a 50 day moving average of $52.72 and a two-hundred day moving average of $50.66. 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 Corporation has a 52 week low of $40.15 and a 52 week high of $58.54.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The firm had revenue of $40.79 million during the quarter, compared to analyst estimates of $41.07 million. As a group, analysts anticipate that ACNB Corporation will post 5.49 EPS for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.0%. This is a boost from ACNB’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, June 1st. ACNB’s payout ratio is 34.36%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACNB shares. Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $56.00 to $57.00 in a research note on Wednesday, May 27th. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Zacks Research lowered shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, ACNB currently has an average rating of “Hold” and an average price target of $57.50.

ACNB 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.