ACNB Corporation (NASDAQ:ACNB – Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $53.91 and last traded at $53.81, with a volume of 2994 shares changing hands. The stock had previously closed at $53.23.
Analyst Ratings Changes
ACNB has been the subject of several analyst reports. 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. Zacks Research downgraded ACNB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded ACNB from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.00.
Check Out Our Latest Analysis on ACNB
ACNB Trading Down 0.4%
ACNB (NASDAQ:ACNB – Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. The business had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. ACNB had a return on equity of 13.30% and a net margin of 25.66%. Analysts expect that ACNB Corporation will post 5.49 earnings per share for the current year.
ACNB Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.42 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from ACNB’s previous quarterly dividend of $0.38. ACNB’s payout ratio is currently 31.08%.
Institutional Investors Weigh In On ACNB
A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of ACNB by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock worth $16,029,000 after acquiring an additional 14,789 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of ACNB by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 37,274 shares of the bank’s stock worth $1,784,000 after acquiring an additional 2,846 shares during the period. Equitable Trust Co. grew its holdings in shares of 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 period. RKL Wealth Management LLC grew its holdings in shares of ACNB by 32.7% in the 1st quarter. RKL Wealth Management LLC now owns 13,405 shares of the bank’s stock worth $642,000 after acquiring an additional 3,307 shares during the period. Finally, First United Bank & Trust acquired a new stake in shares of ACNB in the 1st quarter worth approximately $47,000. 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.
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