ACNB (NASDAQ:ACNB) Hits New 52-Week High – Here’s Why

ACNB Corporation (NASDAQ:ACNBGet Free Report)’s stock price 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 changing hands. The stock had previously closed at $59.38.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on ACNB

ACNB Price Performance

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 business’s 50 day moving average price is $54.38 and its two-hundred day moving average price is $51.34. The stock has a market cap of $622.42 million, a P/E ratio of 12.47 and a beta of 0.88.

ACNB (NASDAQ:ACNBGet Free Report) last released its quarterly 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 company had revenue of $40.79 million during the quarter, compared to the consensus estimate of $41.07 million. ACNB had a net margin of 25.66% and a return on equity of 13.15%. As a group, sell-side analysts expect that ACNB Corporation will post 5.49 earnings per share for the current fiscal year.

ACNB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.68 annualized dividend and a dividend yield of 2.8%. This is an increase from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is currently 34.36%.

Institutional Investors Weigh In On ACNB

Several hedge funds have recently made changes to their positions in the company. Private Capital Management LLC grew its stake in ACNB by 9.9% in the third quarter. Private Capital Management LLC now owns 345,626 shares of the bank’s stock worth $15,221,000 after purchasing an additional 31,113 shares during the period. Maltese Capital Management LLC lifted its position in ACNB by 112.3% during the third quarter. Maltese Capital Management LLC now owns 50,700 shares of the bank’s stock valued at $2,233,000 after buying an additional 26,820 shares during the period. Informed Momentum Co LLC purchased a new position in ACNB during the fourth quarter valued at $1,053,000. The Manufacturers Life Insurance Company boosted its holdings in shares of ACNB by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after buying an additional 17,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ACNB by 4.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 334,844 shares of the bank’s stock valued at $16,029,000 after buying an additional 14,789 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors.

About ACNB

(Get Free Report)

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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