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

ACNB (NASDAQ:ACNB) announced its quarterly earnings data on Thursday. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11, Zacks reports. The firm had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.21 million. ACNB had a net margin of 27.15% and a return on equity of 13.83%.

ACNB Price Performance

Shares of ACNB opened at $62.10 on Friday. 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 stock has a 50 day simple moving average of $57.55 and a 200 day simple moving average of $52.60. ACNB has a 52-week low of $40.80 and a 52-week high of $63.67. The firm has a market capitalization of $634.04 million, a PE ratio of 11.78 and a beta of 0.87.

ACNB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.42 per share. This is a boost from ACNB’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, June 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.7%. ACNB’s dividend payout ratio (DPR) is presently 31.88%.

Institutional Trading of ACNB

Hedge funds have recently bought and sold shares of the stock. Private Capital Management LLC boosted its holdings in shares of ACNB by 9.9% in the third 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. Informed Momentum Co LLC acquired a new stake in shares of ACNB during the fourth quarter worth $1,053,000. Millennium Management LLC acquired a new stake in shares of ACNB during the third quarter worth $414,000. Marshall Wace LLP bought a new stake in ACNB in the 4th quarter valued at $432,000. Finally, Dimensional Fund Advisors LP lifted its position in ACNB by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 320,055 shares of the bank’s stock valued at $15,475,000 after acquiring an additional 8,777 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ACNB Company Profile

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.