ACNB Corporation (NASDAQ:ACNB) Given Average Rating of “Hold” by Brokerages

Shares of ACNB Corporation (NASDAQ:ACNB) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $61.00.

A number of brokerages recently commented on ACNB. Piper Sandler lifted their price objective on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th.

Hedge Funds Weigh In On ACNB

A number of institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new stake in shares of ACNB in the 1st quarter valued at approximately $548,000. Bank of America Corp DE grew its position in ACNB by 10.0% in the first quarter. Bank of America Corp DE now owns 33,187 shares of the bank’s stock worth $1,589,000 after acquiring an additional 3,021 shares during the period. Empowered Funds LLC increased its stake in ACNB by 9.6% during the first quarter. Empowered Funds LLC now owns 59,757 shares of the bank’s stock worth $2,861,000 after acquiring an additional 5,252 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in ACNB by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after acquiring an additional 17,337 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in ACNB by 23.7% in the first quarter. Quantinno Capital Management LP now owns 13,012 shares of the bank’s stock valued at $623,000 after purchasing an additional 2,490 shares during the period. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Price Performance

Shares of NASDAQ ACNB opened at $60.70 on Thursday. The firm has a 50-day simple moving average of $56.81 and a 200-day simple moving average of $52.24. The stock has a market capitalization of $619.75 million, a price-to-earnings ratio of 12.41 and a beta of 0.87. 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 has a 52 week low of $40.80 and a 52 week high of $62.07.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The company had revenue of $40.79 million during the quarter, compared to analysts’ expectations of $41.07 million. On average, equities analysts predict that ACNB will post 5.49 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.42 per share. The ex-dividend date was Monday, June 1st. This is an increase from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 2.8%. ACNB’s dividend payout ratio (DPR) is 34.36%.

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.