ACNB Corporation (NASDAQ:ACNB – Get Free Report)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $57.16 and last traded at $57.08, with a volume of 47487 shares. The stock had previously closed at $56.13.
Analyst Ratings Changes
Several analysts recently weighed in on ACNB shares. Piper Sandler reissued an “overweight” rating and set a $58.00 price target (up from $57.00) on shares of ACNB in a report on Tuesday, April 28th. Wall Street Zen cut ACNB from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Hovde Group cut ACNB from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $56.00 to $57.00 in a report on Wednesday, May 27th. Weiss Ratings raised ACNB from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Zacks Research cut ACNB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.50.
Check Out Our Latest Stock Analysis on ACNB
ACNB Stock Performance
ACNB (NASDAQ:ACNB – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.32 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.07 million. On average, equities analysts expect that ACNB Corporation will post 5.49 earnings per share for the current year.
ACNB Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, June 1st. This is a positive change from ACNB’s previous quarterly dividend of $0.38. ACNB’s dividend payout ratio is 34.36%.
Hedge Funds Weigh In On ACNB
Several hedge funds and other institutional investors have recently modified their holdings of the business. Private Capital Management LLC increased its stake in shares of ACNB by 7.3% in the 4th quarter. Private Capital Management LLC now owns 370,742 shares of the bank’s stock valued at $17,925,000 after purchasing an additional 25,116 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $16,029,000 after purchasing an additional 14,789 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of ACNB by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 162,978 shares of the bank’s stock valued at $7,802,000 after purchasing an additional 17,337 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of ACNB by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 105,905 shares of the bank’s stock valued at $5,121,000 after purchasing an additional 5,218 shares during the last quarter. Finally, Maltese Capital Management LLC increased its stake in shares of ACNB by 30.5% in the 4th quarter. Maltese Capital Management LLC now owns 66,164 shares of the bank’s stock valued at $3,199,000 after purchasing an additional 15,464 shares during the last quarter. Institutional investors own 32.35% of the company’s stock.
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.
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