Brett Fulk Sells 2,773 Shares of ACNB (NASDAQ:ACNB) Stock

ACNB Corporation (NASDAQ:ACNB) EVP Brett Fulk sold 2,773 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $52.27, for a total transaction of $144,944.71. Following the transaction, the executive vice president owned 3,306 shares in the company, valued at approximately $172,804.62. This trade represents a 45.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ACNB Stock Performance

ACNB stock traded down $0.02 on Wednesday, hitting $52.50. The company’s stock had a trading volume of 15,619 shares, compared to its average volume of 27,503. The stock has a market cap of $545.42 million, a price-to-earnings ratio of 16.19 and a beta of 0.87. The firm has a 50 day moving average of $46.97 and a two-hundred day moving average of $44.73. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. ACNB Corporation has a 1 year low of $35.70 and a 1 year high of $53.00.

ACNB (NASDAQ:ACNB) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.22. ACNB had a net margin of 18.47% and a return on equity of 11.58%. The company had revenue of $40.54 million for the quarter, compared to the consensus estimate of $39.83 million. Equities analysts predict that ACNB Corporation will post 3.22 EPS for the current fiscal year.

ACNB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.38 dividend. This is a boost from ACNB’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, December 1st. This represents a $1.52 annualized dividend and a yield of 2.9%. ACNB’s payout ratio is presently 46.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACNB. Weiss Ratings reissued a “hold (c+)” rating on shares of ACNB in a report on Monday. Piper Sandler boosted their price objective on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Zacks Research upgraded shares of ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Raymond James Financial downgraded shares of ACNB from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen raised shares of ACNB from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

Institutional Investors Weigh In On ACNB

A number of institutional investors and hedge funds have recently modified their holdings of ACNB. American Century Companies Inc. boosted its position in shares of ACNB by 7.4% in the 1st quarter. American Century Companies Inc. now owns 108,900 shares of the bank’s stock worth $4,482,000 after buying an additional 7,463 shares in the last quarter. Nuveen LLC purchased a new position in ACNB during the 1st quarter valued at about $717,000. Los Angeles Capital Management LLC acquired a new position in ACNB during the second quarter worth about $292,000. Vanguard Group Inc. raised its position in ACNB by 10.4% during the first quarter. Vanguard Group Inc. now owns 490,884 shares of the bank’s stock worth $20,205,000 after acquiring an additional 46,151 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ACNB by 11.5% in the second quarter. Geode Capital Management LLC now owns 243,474 shares of the bank’s stock valued at $10,432,000 after purchasing an additional 25,142 shares in the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.

About ACNB

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.