ACNB (NASDAQ:ACNB) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

ACNB (NASDAQ:ACNB) released its earnings results on Thursday. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11, Zacks reports. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The business had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.21 million.

ACNB Stock Performance

NASDAQ ACNB opened at $62.86 on Friday. The stock has a market cap of $641.80 million, a PE ratio of 12.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a 50-day moving average of $57.35 and a 200-day moving average of $52.53. ACNB has a 52-week low of $40.80 and a 52-week high of $62.87.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.42 per share. The ex-dividend date was Monday, June 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is 34.36%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in ACNB by 10.6% during the fourth quarter. Empowered Funds LLC now owns 54,505 shares of the bank’s stock worth $2,635,000 after acquiring an additional 5,218 shares during the last quarter. truNorth Financial Services Inc. bought a new stake in shares of ACNB during the fourth quarter worth approximately $232,000. Private Capital Management LLC grew its position in shares of ACNB by 7.3% in the fourth quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after purchasing an additional 25,116 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in ACNB in the 4th quarter valued at $232,000. Finally, Bridgeway Capital Management LLC grew its holdings in ACNB by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock valued at $5,121,000 after buying an additional 5,218 shares in the last quarter. 32.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACNB. Weiss Ratings reissued a “buy (b)” rating on shares of ACNB in a research report on Tuesday. Piper Sandler boosted their price target on ACNB from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $56.00 to $57.00 in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ACNB currently has a consensus rating of “Hold” and a consensus target price of $61.00.

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.