ACNB (NASDAQ:ACNB) Releases Earnings Results, Beats Estimates By $0.22 EPS

ACNB (NASDAQ:ACNB) issued its earnings results on Thursday. The bank reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22, Zacks reports. The business had revenue of $40.54 million during the quarter, compared to analyst estimates of $39.83 million. ACNB had a return on equity of 11.95% and a net margin of 18.47%.

ACNB Price Performance

Shares of ACNB stock opened at $45.33 on Friday. The stock’s fifty day moving average is $44.59 and its 200-day moving average is $43.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $474.51 million, a PE ratio of 13.86 and a beta of 0.95. ACNB has a 52 week low of $35.70 and a 52 week high of $50.72.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.38 per share. The ex-dividend date is Monday, December 1st. This is a boost from ACNB’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. ACNB’s dividend payout ratio (DPR) is currently 46.48%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ACNB shares. Raymond James Financial cut ACNB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACNB in a research report on Friday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ACNB has an average rating of “Moderate Buy” and a consensus target price of $49.25.

Hedge Funds Weigh In On ACNB

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in ACNB by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 148,523 shares of the bank’s stock valued at $6,363,000 after acquiring an additional 1,224 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in ACNB by 3.6% in the second quarter. Bridgeway Capital Management LLC now owns 100,511 shares of the bank’s stock valued at $4,306,000 after buying an additional 3,455 shares during the period. Rhumbline Advisers lifted its stake in ACNB by 31.9% in the second quarter. Rhumbline Advisers now owns 15,515 shares of the bank’s stock valued at $665,000 after buying an additional 3,749 shares during the period. Captrust Financial Advisors lifted its stake in ACNB by 20.4% in the second quarter. Captrust Financial Advisors now owns 13,103 shares of the bank’s stock valued at $561,000 after buying an additional 2,223 shares during the period. Finally, First Trust Advisors LP lifted its stake in ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after buying an additional 334 shares during the period. Institutional investors own 32.35% of the company’s stock.

About ACNB

ACNB Corporation, a financial holding company, offers banking, insurance, and financial services to individual, business, and government customers in the United States. The company provides checking, savings, and money market deposit accounts, as well as time deposits and debit cards. It also offers commercial lending products, such as commercial mortgages, real estate development and construction loans, accounts receivable and inventory financing, and agricultural and governmental loans; consumer lending products, including home equity loans and lines of credit, automobile and recreational vehicle loans, manufactured housing loans, and personal lines of credit; and mortgage lending programs include personal residential mortgages, and residential construction and investment mortgage loans.