ACNB (NASDAQ:ACNB) Hits New 52-Week High – What’s Next?

Shares of ACNB Corporation (NASDAQ:ACNB) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.55 and last traded at $55.55, with a volume of 5273 shares traded. The stock had previously closed at $54.45.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACNB. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Hovde Group downgraded ACNB from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $56.00 to $57.00 in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 price objective (up from $57.00) on shares of ACNB in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.50.

ACNB Trading Up 0.2%

The company has a 50 day simple moving average of $50.61 and a 200 day simple moving average of $49.96. 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 stock has a market capitalization of $556.55 million, a PE ratio of 11.15 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. ACNB had a return on equity of 13.15% and a net margin of 25.66%.The firm had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. Analysts predict that ACNB Corporation will post 5.49 earnings per share for the current fiscal year.

ACNB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s payout ratio is presently 31.08%.

Institutional Investors Weigh In On ACNB

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 374 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of ACNB in the 3rd quarter worth approximately $45,000. First United Bank & Trust acquired a new stake in shares of ACNB in the 1st quarter worth approximately $47,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of ACNB in the 1st quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 856 shares during the period. 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.