ACNB (NASDAQ:ACNB) Director Sells $255,000.00 in Stock

ACNB Corporation (NASDAQ:ACNB) Director Donald Arthur Seibel, Jr. sold 5,000 shares of ACNB stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $51.00, for a total value of $255,000.00. Following the completion of the transaction, the director owned 5,927 shares of the company’s stock, valued at approximately $302,277. This trade represents a 45.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

ACNB Trading Down 0.2%

ACNB stock traded down $0.08 during midday trading on Friday, reaching $51.51. The company’s stock had a trading volume of 8,133 shares, compared to its average volume of 27,400. The firm has a market capitalization of $535.19 million, a price-to-earnings ratio of 15.75 and a beta of 0.87. ACNB Corporation has a 1 year low of $35.70 and a 1 year high of $52.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a fifty day simple moving average of $46.46 and a two-hundred day simple moving average of $44.48.

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

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from ACNB’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, December 1st. ACNB’s dividend payout ratio is presently 46.48%.

Institutional Investors Weigh In On ACNB

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ACNB by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after acquiring an additional 234 shares during the period. Allworth Financial LP boosted its stake in 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 buying an additional 300 shares in the last quarter. First Trust Advisors LP increased its position in shares of ACNB by 5.2% during the 2nd quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock worth $288,000 after purchasing an additional 334 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ACNB by 56.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after acquiring an additional 374 shares in the last quarter. Finally, Equitable Trust Co. increased its position in ACNB by 9.1% in the 3rd quarter. Equitable Trust Co. now owns 9,030 shares of the bank’s stock valued at $398,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 32.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACNB shares. Piper Sandler lifted their target price on shares of ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial lowered shares of ACNB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of ACNB from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research raised ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings cut ACNB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.67.

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.