ACNB (NASDAQ:ACNB) Shares Cross Above Fifty Day Moving Average – Here’s Why

ACNB Corporation (NASDAQ:ACNB)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $50.31 and traded as high as $52.53. ACNB shares last traded at $49.71, with a volume of 24,717 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ACNB shares. Zacks Research raised ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a report on Monday, December 29th. Finally, Piper Sandler raised their price target on ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $48.67.

ACNB Trading Down 4.0%

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $516.49 million, a P/E ratio of 14.04 and a beta of 0.87. The firm’s 50 day moving average price is $50.31 and its 200 day moving average price is $47.42.

ACNB (NASDAQ:ACNB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $40.74 million during the quarter, compared to analyst estimates of $39.69 million. ACNB had a return on equity of 12.77% and a net margin of 19.32%. As a group, equities research analysts expect that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. ACNB’s dividend payout ratio (DPR) is presently 42.94%.

Insider Buying and Selling at ACNB

In other ACNB news, EVP Brett D. Fulk sold 2,773 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $52.27, for a total value of $144,944.71. Following the completion of the transaction, the executive vice president directly owned 3,306 shares in the company, valued at approximately $172,804.62. This represents a 45.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin J. Hayes sold 750 shares of ACNB stock in a transaction dated Tuesday, February 3rd. The shares were 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. The trade was a 22.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 10,009 shares of company stock valued at $510,520. 3.53% of the stock is currently owned by company insiders.

Institutional Trading of ACNB

A number of hedge funds have recently modified their holdings of ACNB. Los Angeles Capital Management LLC bought a new stake in shares of ACNB in the 2nd quarter worth approximately $292,000. Financial Consulate Inc. bought a new position in ACNB during the 3rd quarter valued at approximately $589,000. Geode Capital Management LLC raised its stake in ACNB by 11.5% during the second quarter. Geode Capital Management LLC now owns 243,474 shares of the bank’s stock valued at $10,432,000 after buying an additional 25,142 shares during the last quarter. SG Americas Securities LLC bought a new stake in ACNB in the fourth quarter worth $133,000. Finally, JPMorgan Chase & Co. grew its stake in shares of ACNB by 32.3% in the third quarter. JPMorgan Chase & Co. now owns 7,276 shares of the bank’s stock worth $320,000 after acquiring an additional 1,775 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

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.