ACNB Corporation (NASDAQ:ACNB) Raises Dividend to $0.42 Per Share

ACNB Corporation (NASDAQ:ACNB) declared a quarterly dividend on Wednesday, April 29th. Investors of record on Monday, June 1st will be paid a dividend of 0.42 per share by the bank on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 1st. This is a 10.5% increase from ACNB’s previous quarterly dividend of $0.38.

ACNB has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. ACNB has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ACNB to earn $5.25 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 29.0%.

ACNB Stock Down 0.2%

ACNB stock traded down $0.10 during midday trading on Thursday, hitting $50.53. The company’s stock had a trading volume of 9,007 shares, compared to its average volume of 50,596. The firm’s 50-day moving average is $49.13 and its 200-day moving average is $48.85. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. ACNB has a 12 month low of $40.15 and a 12 month high of $53.89. The company has a market cap of $523.14 million, a PE ratio of 10.33 and a beta of 0.86.

ACNB (NASDAQ:ACNB) last posted its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.30%. The business had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. On average, equities research analysts forecast that ACNB will post 5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $58.00 price target (up from $57.00) on shares of ACNB in a research report on Tuesday. Zacks Research cut shares of ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings upgraded shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, ACNB has an average rating of “Moderate Buy” and a consensus target price of $58.00.

ACNB Company Profile

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.