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

Shares of ACNB Corporation (NASDAQ:ACNB) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $57.50.

Several equities analysts have commented on the stock. Hovde Group cut shares of ACNB from an “outperform” rating to a “market perform” rating and raised their target price for the company from $56.00 to $57.00 in a research note on Wednesday, May 27th. Weiss Ratings raised shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Wall Street Zen cut shares of ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Piper Sandler reissued an “overweight” rating and set a $58.00 target price (up from $57.00) on shares of ACNB in a research note on Tuesday, April 28th. Finally, Zacks Research cut shares of ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th.

ACNB Stock Up 1.5%

ACNB stock opened at $53.72 on Wednesday. The stock has a market cap of $548.48 million, a price-to-earnings ratio of 10.99 and a beta of 0.88. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $51.10 and its two-hundred day moving average price is $50.09. ACNB has a 52 week low of $40.15 and a 52 week high of $55.55.

ACNB (NASDAQ:ACNB) last released its earnings results on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $40.79 million for the quarter, compared to analysts’ expectations of $41.07 million. ACNB had a net margin of 25.66% and a return on equity of 13.15%. On average, analysts expect that ACNB will post 5.49 EPS for the current fiscal year.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. This is an increase from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is presently 34.36%.

Hedge Funds Weigh In On ACNB

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake 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 purchasing an additional 374 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACNB in the 3rd quarter worth approximately $45,000. First United Bank & Trust acquired a new position in shares of ACNB in the 1st quarter worth approximately $47,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of ACNB in the 1st quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of ACNB by 98.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock worth $74,000 after purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds 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.