ACNB (NASDAQ:ACNB) Sees Large Volume Increase – Here’s Why

ACNB Corporation (NASDAQ:ACNB) saw an uptick in trading volume on Friday . 32,355 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 27,609 shares.The stock last traded at $48.6050 and had previously closed at $49.04.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler lifted their target price on ACNB from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of ACNB in a research report on Monday. Wall Street Zen raised shares of ACNB from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Raymond James Financial lowered shares of ACNB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, ACNB has an average rating of “Buy” and a consensus price target of $48.67.

ACNB Stock Performance

The stock has a market cap of $502.48 million, a PE ratio of 14.80 and a beta of 0.95. 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 firm has a fifty day moving average price of $45.39 and a 200 day moving average price of $44.06.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, October 23rd. The bank reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.22. The business had revenue of $40.54 million for 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%. Research analysts forecast that ACNB Corporation will post 3.22 earnings per share for the current fiscal year.

ACNB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.1%. This is a positive change from ACNB’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, December 1st. ACNB’s dividend payout ratio is 46.48%.

Institutional Investors Weigh In On ACNB

Several hedge funds have recently modified their holdings of ACNB. Vanguard Group Inc. lifted its position in shares of ACNB by 10.4% in the first quarter. Vanguard Group Inc. now owns 490,884 shares of the bank’s stock valued at $20,205,000 after acquiring an additional 46,151 shares in the last quarter. Private Capital Management LLC raised its holdings in shares of ACNB by 9.9% in the 3rd quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock valued at $15,221,000 after buying an additional 31,113 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ACNB by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 311,278 shares of the bank’s stock worth $13,708,000 after acquiring an additional 8,157 shares during the period. Geode Capital Management LLC raised its holdings in ACNB by 11.5% in the second quarter. Geode Capital Management LLC now owns 243,474 shares of the bank’s stock valued at $10,432,000 after acquiring an additional 25,142 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake 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 buying an additional 1,224 shares in the last quarter. 32.35% of the stock is owned by hedge funds and other institutional investors.

ACNB Company Profile

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.