The Manufacturers Life Insurance Company Boosts Stock Holdings in ACNB Corporation $ACNB

The Manufacturers Life Insurance Company raised its position in shares of ACNB Corporation (NASDAQ:ACNB) by 11.9% in the first quarter, Holdings Channel.com reports. The fund owned 162,978 shares of the bank’s stock after acquiring an additional 17,337 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ACNB were worth $7,802,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Capital Management LLC raised its stake in ACNB by 7.3% in the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after purchasing an additional 25,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in ACNB by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after acquiring an additional 14,789 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in ACNB by 5.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock valued at $5,121,000 after acquiring an additional 5,218 shares in the last quarter. Maltese Capital Management LLC grew its stake in ACNB by 30.5% during the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock valued at $3,199,000 after acquiring an additional 15,464 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in ACNB by 10.6% in the 4th quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock worth $2,635,000 after purchasing an additional 5,218 shares in the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

ACNB Price Performance

ACNB stock opened at $65.43 on Wednesday. The company’s 50 day simple moving average is $58.96 and its 200-day simple moving average is $53.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. ACNB Corporation has a 1 year low of $41.06 and a 1 year high of $65.94. The company has a market capitalization of $668.04 million, a price-to-earnings ratio of 12.42 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. ACNB had a net margin of 27.15% and a return on equity of 13.83%. The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million. As a group, equities research analysts expect that ACNB Corporation will post 5.72 earnings per share for the current year.

ACNB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 1st. ACNB’s dividend payout ratio (DPR) is currently 31.88%.

Analyst Ratings Changes

ACNB has been the subject of several recent research reports. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Hovde Group lifted their price target on ACNB from $57.00 to $64.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Piper Sandler raised their price objective on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.50.

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.