ACNB Corporation (NASDAQ:ACNB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ACNB Corporation (NASDAQ:ACNB) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $64.50.

ACNB has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Hovde Group lifted their target price on ACNB from $57.00 to $64.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of ACNB in a report on Tuesday, July 21st.

ACNB Stock Performance

ACNB opened at $64.93 on Monday. The business’s 50-day moving average price is $60.67 and its two-hundred day moving average price is $54.23. ACNB has a 1 year low of $42.52 and a 1 year high of $65.94. The company has a market capitalization of $660.34 million, a price-to-earnings ratio of 12.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, July 23rd. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. The business had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.21 million. ACNB had a return on equity of 13.78% and a net margin of 27.15%. Equities analysts expect that ACNB will post 5.72 EPS for the current fiscal year.

ACNB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. ACNB’s payout ratio is presently 31.88%.

Hedge Funds Weigh In On ACNB

Hedge funds and other institutional investors have recently bought and sold shares of the business. First United Bank & Trust acquired a new stake in ACNB during the first quarter worth approximately $47,000. Legal & General Group Plc bought a new stake in ACNB during the second quarter worth about $59,000. Russell Investments Group Ltd. bought a new position in ACNB in the third quarter valued at approximately $45,000. BNP Paribas Financial Markets raised its holdings in shares of ACNB by 56.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after buying an additional 374 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of ACNB in the 2nd quarter valued at approximately $66,000. Institutional investors own 32.35% of the company’s stock.

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.