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

Shares of ACNB Corporation (NASDAQ:ACNB) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, 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 target among brokers that have updated their coverage on the stock in the last year is $57.50.

Several research analysts recently weighed in on ACNB shares. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $56.00 to $57.00 in a research report on Wednesday, May 27th. Zacks Research lowered ACNB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $58.00 price objective (up from $57.00) on shares of ACNB in a research report on Tuesday, April 28th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Maltese Capital Management LLC raised its position in ACNB by 112.3% in the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock valued at $2,233,000 after purchasing an additional 26,820 shares during the period. Equitable Trust Co. increased its position in shares of ACNB by 9.1% during the third quarter. Equitable Trust Co. now owns 9,030 shares of the bank’s stock worth $398,000 after acquiring an additional 750 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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. Cassaday & Co Wealth Management LLC purchased a new stake in shares of ACNB during the first quarter worth about $71,000. Finally, RKL Wealth Management LLC increased its position in shares of ACNB by 32.7% during the first quarter. RKL Wealth Management LLC now owns 13,405 shares of the bank’s stock worth $642,000 after acquiring an additional 3,307 shares during the last quarter. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Stock Performance

Shares of ACNB opened at $57.22 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $584.22 million, a P/E ratio of 11.70 and a beta of 0.88. The stock’s fifty day simple moving average is $53.32 and its 200 day simple moving average is $50.87. ACNB has a twelve month low of $40.71 and a twelve month high of $58.54.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.06. The business had revenue of $40.79 million for the quarter, compared to analyst estimates of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. On average, equities research analysts forecast that ACNB will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.9%. This is a boost from ACNB’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, June 1st. ACNB’s dividend payout ratio 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.