ACNB (NASDAQ:ACNB) Reaches New 1-Year High – Should You Buy?

Shares of ACNB Corporation (NASDAQ:ACNB) reached a new 52-week high during trading on Wednesday . The company traded as high as $60.89 and last traded at $60.9950, with a volume of 31933 shares trading hands. The stock had previously closed at $59.38.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACNB shares. Weiss Ratings raised shares of ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Zacks Research cut shares of ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen lowered ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Hovde Group lowered ACNB from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Finally, Piper Sandler raised 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, ACNB has a consensus rating of “Hold” and a consensus target price of $61.00.

ACNB Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.93. The company has a 50 day simple moving average of $54.78 and a 200-day simple moving average of $51.47. The firm has a market cap of $615.15 million, a PE ratio of 12.32 and a beta of 0.87.

ACNB (NASDAQ:ACNB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. ACNB had a net margin of 25.66% and a return on equity of 13.15%. The firm had revenue of $40.79 million during the quarter, compared to analyst estimates of $41.07 million. As a group, equities research analysts anticipate that ACNB Corporation will post 5.49 EPS for the current year.

ACNB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.42 dividend. This is a boost from ACNB’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 1st. ACNB’s payout ratio is presently 34.36%.

Institutional Trading of ACNB

Several institutional investors have recently added to or reduced their stakes in ACNB. Equitable Trust Co. grew its holdings in ACNB by 2.3% in the 1st quarter. Equitable Trust Co. now owns 9,470 shares of the bank’s stock worth $453,000 after acquiring an additional 210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ACNB by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,942 shares of the bank’s stock valued at $203,000 after acquiring an additional 234 shares during the last quarter. First Trust Advisors LP raised its stake in shares of ACNB by 5.2% during the second quarter. First Trust Advisors LP now owns 6,725 shares of the bank’s stock valued at $288,000 after acquiring an additional 334 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings 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 worth $44,000 after purchasing an additional 374 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of ACNB by 37.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,219 shares of the bank’s stock worth $107,000 after purchasing an additional 600 shares during the period. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

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.