ACNB Corporation (NASDAQ:ACNB) Receives Average Rating of “Hold” from Analysts

Shares of ACNB Corporation (NASDAQ:ACNB) have received an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $61.00.

Several brokerages have recently commented on ACNB. Hovde Group lowered shares of ACNB from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Piper Sandler upped their price target on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th.

ACNB Stock Down 1.1%

Shares of ACNB opened at $60.53 on Thursday. The firm has a market cap of $618.01 million, a P/E ratio of 12.38 and a beta of 0.87. ACNB has a 12-month low of $40.80 and a 12-month high of $62.07. The company’s 50-day moving average price is $57.14 and its 200 day moving average price is $52.42. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

ACNB (NASDAQ:ACNB) last announced its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The company had revenue of $40.79 million during the quarter, compared to analyst estimates of $41.07 million. On average, sell-side analysts forecast that ACNB will post 5.49 earnings per share for the current year.

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is currently 34.36%.

Hedge Funds Weigh In On ACNB

Several institutional investors have recently bought and sold shares of ACNB. BNP Paribas Financial Markets lifted its position in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock worth $44,000 after purchasing an additional 374 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACNB in the third quarter valued at approximately $45,000. First United Bank & Trust purchased a new stake in ACNB during the 1st quarter worth approximately $47,000. Cassaday & Co Wealth Management LLC purchased a new stake in ACNB during the 1st quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC lifted its holdings in ACNB by 98.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after buying an additional 856 shares in the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

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.