ACNB (NASDAQ:ACNB) Issues Earnings Results, Beats Expectations By $0.09 EPS

ACNB (NASDAQ:ACNB) announced its quarterly earnings data on Thursday. The bank reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09, Zacks reports. ACNB had a net margin of 18.47% and a return on equity of 11.58%. The business had revenue of $40.74 million for the quarter, compared to analyst estimates of $39.69 million.

ACNB Stock Up 0.3%

Shares of NASDAQ ACNB opened at $50.85 on Friday. ACNB has a one year low of $35.70 and a one year high of $53.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $49.26 and its two-hundred day simple moving average is $46.06. The stock has a market capitalization of $528.33 million, a P/E ratio of 15.55 and a beta of 0.87.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACNB shares. Piper Sandler raised their price objective on shares of ACNB from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial downgraded ACNB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of ACNB in a research report on Monday, December 29th. Wall Street Zen upgraded ACNB from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research upgraded ACNB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $48.67.

Insider Buying and Selling

In other news, EVP Brett D. Fulk sold 2,773 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $52.27, for a total value of $144,944.71. Following the completion of the sale, the executive vice president owned 3,306 shares of the company’s stock, valued at approximately $172,804.62. The trade was a 45.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Donald Arthur Seibel, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $51.00, for a total value of $255,000.00. Following the transaction, the director owned 5,927 shares in the company, valued at approximately $302,277. The trade was a 45.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ACNB by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock worth $203,000 after acquiring an additional 234 shares in the last quarter. First Trust Advisors LP grew its holdings in ACNB by 5.2% in the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock worth $288,000 after purchasing an additional 334 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ACNB by 56.5% during the second quarter. BNP Paribas Financial Markets now owns 1,036 shares of the bank’s stock valued at $44,000 after purchasing an additional 374 shares in the last quarter. Equitable Holdings Inc. lifted its holdings in shares of ACNB by 15.1% during the third quarter. Equitable Holdings Inc. now owns 6,214 shares of the bank’s stock valued at $274,000 after purchasing an additional 814 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of ACNB by 98.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the bank’s stock valued at $74,000 after purchasing an additional 856 shares during the last quarter. Hedge funds and other institutional investors 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.