ACNB Corporation (NASDAQ:ACNB) Receives Average Recommendation of “Hold” from Brokerages

Shares of ACNB Corporation (NASDAQ:ACNB) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Three equities 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 brokers that have updated their coverage on the stock in the last year is $57.50.

ACNB has been the topic of several analyst reports. Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Hovde Group reiterated a “market perform” rating and issued a $57.00 price objective (up from $56.00) on shares of ACNB in a report on Wednesday. Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $58.00 target price (up from $57.00) on shares of ACNB in a research note on Tuesday, April 28th.

ACNB Trading Up 1.1%

NASDAQ ACNB opened at $55.06 on Wednesday. The stock’s 50-day simple moving average is $50.47 and its two-hundred day simple moving average is $49.91. ACNB has a twelve month low of $40.15 and a twelve month high of $55.55. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $562.27 million, a price-to-earnings ratio of 11.26 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, topping the consensus estimate of $1.26 by $0.06. The firm had revenue of $40.79 million for the quarter, compared to the consensus estimate of $41.07 million. ACNB had a return on equity of 13.15% and a net margin of 25.66%. Research analysts forecast that ACNB will post 5.49 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a boost from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. ACNB’s payout ratio is 34.36%.

Institutional Trading of ACNB

Several large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new stake in shares of ACNB in the first quarter worth about $548,000. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 3,021 shares during the last quarter. Empowered Funds LLC grew its stake in shares of ACNB by 9.6% in the first quarter. Empowered Funds LLC now owns 59,757 shares of the bank’s stock worth $2,861,000 after purchasing an additional 5,252 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of ACNB by 11.9% in the first quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock worth $7,802,000 after purchasing an additional 17,337 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of ACNB by 23.7% in the first quarter. Quantinno Capital Management LP now owns 13,012 shares of the bank’s stock worth $623,000 after purchasing an additional 2,490 shares during the last quarter. 32.35% of the stock is owned by institutional investors.

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.