Kevin Hayes Sells 750 Shares of ACNB (NASDAQ:ACNB) Stock

ACNB Corporation (NASDAQ:ACNB) SVP Kevin Hayes sold 750 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $51.30, for a total transaction of $38,475.00. Following the transaction, the senior vice president owned 2,632 shares in the company, valued at $135,021.60. The trade was a 22.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ACNB Stock Down 0.8%

ACNB stock opened at $52.76 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $49.80 and a two-hundred day moving average of $46.55. ACNB Corporation has a 12 month low of $35.70 and a 12 month high of $53.76. The company has a market cap of $548.18 million, a price-to-earnings ratio of 14.90 and a beta of 0.87.

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

ACNB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders 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 dividend yield of 2.9%. ACNB’s dividend payout ratio (DPR) is 42.94%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of ACNB by 42.9% in the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the bank’s stock valued at $43,000 after acquiring an additional 300 shares during the period. BNP Paribas Financial Markets increased its holdings in ACNB by 56.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in ACNB in the third quarter valued at approximately $45,000. Tripletail Wealth Management LLC purchased a new stake in ACNB in the third quarter valued at approximately $46,000. Finally, Tower Research Capital LLC TRC lifted its stake in ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after purchasing an additional 856 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACNB. Zacks Research upgraded shares of ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of ACNB in a research note on Monday, December 29th. Piper Sandler lifted their price target on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded 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, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, ACNB has a consensus rating of “Buy” and a consensus price target of $48.67.

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.