The Manufacturers Life Insurance Company Has $4.95 Million Stock Holdings in ACNB Co. (NASDAQ:ACNB)

The Manufacturers Life Insurance Company increased its holdings in shares of ACNB Co. (NASDAQ:ACNB) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,228 shares of the bank’s stock after acquiring an additional 8,032 shares during the period. The Manufacturers Life Insurance Company owned about 1.45% of ACNB worth $4,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its position in ACNB by 286.7% in the third quarter. Barclays PLC now owns 10,807 shares of the bank’s stock valued at $472,000 after buying an additional 8,012 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ACNB by 9.1% in the 4th quarter. American Century Companies Inc. now owns 101,437 shares of the bank’s stock worth $4,040,000 after acquiring an additional 8,486 shares in the last quarter. SG Americas Securities LLC grew its position in ACNB by 35.3% during the 4th quarter. SG Americas Securities LLC now owns 3,963 shares of the bank’s stock worth $158,000 after acquiring an additional 1,035 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ACNB by 145.4% during the 4th quarter. JPMorgan Chase & Co. now owns 27,362 shares of the bank’s stock valued at $1,090,000 after purchasing an additional 16,214 shares in the last quarter. Finally, Rhumbline Advisers raised its position in ACNB by 2.2% in the 4th quarter. Rhumbline Advisers now owns 12,405 shares of the bank’s stock valued at $494,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.

ACNB Stock Up 1.5 %

Shares of NASDAQ:ACNB opened at $42.91 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $452.40 million, a price-to-earnings ratio of 11.50 and a beta of 0.83. The company has a 50 day moving average of $40.91 and a 200-day moving average of $42.03. ACNB Co. has a one year low of $30.24 and a one year high of $50.72.

ACNB (NASDAQ:ACNB) last issued its earnings results on Thursday, April 24th. The bank reported $1.03 EPS for the quarter, beating the consensus estimate of $0.94 by $0.09. ACNB had a net margin of 24.09% and a return on equity of 10.91%. The company had revenue of $34.27 million during the quarter, compared to analysts’ expectations of $32.65 million. On average, sell-side analysts forecast that ACNB Co. will post 3.22 earnings per share for the current year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.36 dividend on an annualized basis and a yield of 3.17%. This is a boost from ACNB’s previous quarterly dividend of $0.32. ACNB’s dividend payout ratio (DPR) is 46.90%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler upgraded ACNB from a “neutral” rating to an “overweight” rating and raised their target price for the company from $37.00 to $50.00 in a research note on Monday, March 3rd. UBS Group set a $47.00 target price on shares of ACNB in a research note on Friday, March 21st. Raymond James started coverage on shares of ACNB in a research note on Friday, March 21st. They set an “outperform” rating and a $47.00 price target on the stock. Finally, StockNews.com cut shares of ACNB from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.40.

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.